Strict Compliance with the MOA for the Re-launching of Nationwide Campaign for Effective Implementation of BSP's Clean Note Policy

1 anc SentraL ng Pil. hinas

OFFICE OF THE DEPUTY GOVERNOR Monetary Stability Sector

CIRCULAR LETTER NO. CL - 2006 036

13... October 2006

To : All Commercial Banks, Thrift Banks and Rural Banks

Subject . : Strict Compliance with the Memorandum of Agreement (MOA) for the Re-launching of Nationwide Campaign for ' Effective Implementation of the BSP's"Clean Note Policy" between BSP the Bankers Association of the Philippines, Chamber of Thrift

Banks and Rurat Bankers Association of the Philippines

Pursuant to Chapter IV, Sections 12 & 13, BSP Circular No. 61 Series 1995 and in line with the above mentioned MOA signed on July 3, 2003, all banks are hereby reminded to strictly comply with the following:

1. Accept from the public any amount of dirty/unfit notes for exchange

with clean/fit notes;

2. Provide the necessary resources and operating procedures to

undertake said activity:

3. Make cash deposits to BSP, Cash Department and/or to the different

regional branches, properly classified/sorted'as to clean/fit notes and dirty/unfit notes in accordance with the "Currency Guide for Bank Department, BsP and other relevant provisions of Chapter IV, Section Notes); and Tellers, Money Counters and Cash Custodians" prepared by the Cash 12, Circular 61 (Consolidated Rules and Regulations on Currency

4. Assist the BsP in the dissemination to the public of information pertinent to the implementation of the "Clean Note Policy".

uumi mmo DIWA C. GUINIGUNDO Deputy Governor

PANANALAPINg MAtAtAg. BANSANG PAnAtAg

A. Mabini St., Malate 1004, Manila, Philippines Trunkline (632) 524-70-11 URL:www.bsp.gov.phe-mail: [email protected]