BSP Operations Pursuant to Malacanang Memorandum Circular No. 37 dated 13 December 2017

Baxexo SsxrmL Ntl ]rrlrprrrlg CORRECTED COPY OFFICE OF TI{E GOVERNOR MEMORAN DU M NO. M.2OL7.O?7 TO : ALL BANKSAND NBQBs Subjea : BSP Operations Pursuant to Malacafrang Memorandum Circular No. 37 dated 13 December 2Ot7 In view of Malacafiang Memorandum Circular No. 37 dated 13 December 2017 declaring suspension of work for government offices on 26 December 2017 (Tuesday) and 02 January 2018 (Tuesday), and in consultation with the banking industry and other financial market stakeholders, please be advised that BSP services including clearing and settlement, cash servicing and treasury trading facilities will not be available. However, BSP Cash units (Manila and Quezon City), Regional Offices, and Branches shall be open on 25 December 2017 to accept from the general public the exchange of demonetized NDS notes only, from 8:30 am - 12 noon. The abovementioned dates are likewise considered non-reserve days. Accordingly, the reserye position as computed at the close of business on 22 December 2017 (Friday) shall be carried up to 25 December 2017 (Tuesday) and the reserve position as computed at the close of business on 29 December 20L7 (Friday) shall be carried up to 02 January 2018 (Tuesday). All reports due on 25 December 20L7 (Tuesday) and 02 January 2018 (Tuesday) may likewise be submitted on the next banking day without penalty. All banks and NBQBs are advised to make the necessary prior arrangements to ensure smooth operations leading to the abovementioned regular holidays and immediately after the dates covered by Malacafiang Memorandum Circular No. 37. For guidance. I tt#"ft# ,r P}ecember 2Ot7 A. Mqbini St., Molote 1004 Monilq, Philippines . (6321 708-7701 o www.bsp.gov.ph . [email protected]