Published interest rates that will be applied on BSP's RRPs, SDAs and Regular Demand Deposit Accounts of banks and NBQBs

MEMORANDUM Series of 2003

TO:       All Banks and Non-Banks with Quasi-Banking Functions (NBQBs)

Pursuant to Monetary Board Resolution Nos. 778 and 876 dated 05 and 19 June 2003, respectively, please be informed that effective 01 July 2003, published interest rates that will be applied on BSP's Reverse Repurchase Agreements (RRPs), Special Deposit Accounts (SDAs) and Regular Demand Deposit Accounts of banks and NBQBs shall be inclusive of the 10% Value Added Tax (VAT).

For your information and guidance.

FOR THE MONETARY BOARD

AMANDO M. TETANGCO, JR. Deputy Governor