Reduction in the statutory/legal reserve requirements for peso demand, "NOW", savings, time deposit liabilities and deposit substitutes of universal banks, commercial banks, thrift banks, rural and cooperative banks, and quasi-banks
CIRCULAR NO. 632 Series of 2008
The Monetary Board, in its Resolution No. 1448 dated 6 November 2008, approved the reduction in the statutory/legal reserve requirements for peso demand, “NOW”, savings, time deposit liabilities and deposit substitutes of universal banks, commercial banks, thrift banks, rural and cooperative banks, and quasi-banks, as follows:
BANK/ FINANCIAL INSTITUTION
ACCOUNTS
STATUTORY/LEGAL RESERVES
LIQUIDITY RESERVES
From
To
Universal Banks/ Commercial Banks
- Demand - Savings - Time - Deposit Substitutes
10%
8%
11%
- “NOW”
9%
8%
- Long-term Negotiable CTDs
2%
2% 0%
Thrift Banks
- Demand - “NOW” - Savings - Time - Deposit Substitutes
6%
4%
2%
- Long-term Negotiable CTDs
2%
2% 0%
Rural Banks/Cooperative Banks
- Demand
6%
4%
0%
- “NOW”
- Savings
2%
1%
- Time
- Long-term Negotiable CTDs
2%
2%
Quasi-Banks
- Deposit Substitutes
10%
8%
11%
Required reserves for peso-denominated Common Trust Funds (CTFs) and such other similarly managed funds, as well as those for Trust and Other Fiduciary Accounts--Others (TOFA-Others) shall remain at current levels.
These new reserve requirement ratios shall be effective starting with the reserve week beginning 14 November 2008.
FOR THE MONETARY BOARD:
AMANDO M. TETANGCO, JR. Governor
同类文件 BSP Circulars
- To approve the increase in the reserve requirements for Universal Banks (UBs) and Commercial Banks (KBs) and Non-Bank Financial Intermediaries with Quasi-Banking Functions and with Trust License(BSP Circular No. 491)
- To recognize, for bank supervisory purposes, internationally accepted credit rating agencies (CRAs)(BSP Circular No. 473)
- Reduction in the Reserve Requirement of Bonds(BSP Circular No. 1054)
- Regulation governing NBQB(BSP Circular No. 185)
- Guidelines on the Integration of Sustainability Principles in Investment Activities of Banks(BSP Circular No. 1149)
- Amendments to the Qualification Requirements of Selling Agents and/or Market Makers of Long-Term Negotiable Certificates of Time Deposits and/or Unsecured Subordinated Debt(BSP Circular No. 778)
- Securities backed by the unreleased Internal Revenue Allotments (IRA) of local government units(BSP Circular No. 353)
- Credit card operations of banks and subsidiary credit card companies(BSP Circular No. 398)
想要这份文件的分析？
让 ASG 法律 AI 为你总结、与其他判例对比，或说明它如何适用于你的情形 — 它检索的正是同一个数据库。