Amendment to the Guidelines on the BSP Rediscounting Facility

CIRCULAR NO. 679 Series of 2010

Pursuant to Monetary Board Resolution No. 9 dated 07 January 2010, the provision of Item a, Subsection (§) X269.6 of the Manual of Regulations for Banks, covering the guidelines on the Bangko Sentral ng Pilipinas (BSP) Rediscounting Facility is hereby amended as follows:

x  x  x

§ X269.6 Rediscount/Lending Rates and Liquidated Damages.  The rediscount rates for peso, dollar and yen loans shall be as follows:

a.  Peso Rediscounts

Based on the applicable BSP overnight reverse repurchase (RRP) rate

x  x  x

Effectivity.  This Circular shall take effect on 01 February 2010.

FOR THE MONETARY BOARD:

ARMANDO L. SURATOS Officer-in-Charge