Exclusion of thrift banks from the increases in liquidity reserves against peso deposits and deposit substitutes
CIRCULAR NO. 267 Series of 2000
The Monetary Board, in its Resolution No. 1820 dated 20 October 2000, decided to exclude thrift banks from the increase in liquidity reserves against peso demand, savings, time deposit and deposit substitute liabilities which took effect on 13 and 20 October 2000. Section A of Circular Nos. 260 and 262 are hereby amended to read as follows:
Amendment to Circular No. 260
A. LIQUIDITY RESERVES AGAINST DEPOSIT/DEPOSIT SUBSTITUTES
Category of Banks
Liquidity Ratios
UBs/KBs and NBQs
From 3% to 5%
TBs
To remain at 2%
RBs/Coop Banks
To remain at 0%
(1) Demand Deposit
To remain at 0%
(2) Savings/Time Deposits
To remain at 0%
The required liquidity reserves may be maintained in the form of short-term market-yielding government securities purchased directly from the Bangko Sentral ng Pilipinas (BSP)-Treasury Department, pursuant to Circular No. 10 dated 29 December 1993.
Amendment to Circular No. 262
A. LIQUIDITY RESERVES AGAINST DEPOSIT/DEPOSIT SUBSTITUTES
Category of Banks
Liquidity Ratio
UBs/KBs and NBQs
From 5% to 7%
TBs
To remain at 2%
RBs/Coop Banks:
To remain at 0%
(1) Demand Deposit
To remain at 0%
(2) Savings/Time Deposits
To remain at 0%
The required liquidity reserves may be maintained in the form of short-term market-yielding government securities purchased directly from the Bangko Sentral ng Pilipinas (BSP)-Treasury Department, pursuant to Circular No. 10 dated 29 December 1993.
FOR THE MONETARY BOARD:
RAFAEL B. BUENAVENTURA Governor
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