BSP Circular No. 259 dated 29 September 2000

CIRCULAR LETTER Series of 2000

TO              :      ALL BANKS

SUBJECT    :      BSP Circular No. 259 dated 29 September 2000

The Monetary Board, in its Resolution No. 2006 dated 17 November 2000, decided to allow the Issuances of gift checks payable to bearer with issue date up to 31 December 2000, subject to the following conditions:

a.  That the amount of each check shall not exceed P10,000;

b.  That the buyer of the check is properly identified as required under Circular No. 259 dated 29 September 2000; and

c.  That a register of gift checks issued shall be maintained.

This Circular Letter shall take effect immediately.

RAFAEL B. BUENAVENTURA Governor