Item b of Resolution No. 578 dated June 26, 1992 and Circular No. 1346
CBP CIRCULAR NO. 1355 Series of 1992
The Monetary Board, in its Resolution No. 839 dated September 4, 1992, amended Item b of Resolution No. 578 dated June 26, 1992 and Circular No. 1346, so as to read as follows:
"b. Thrift banks authorized to accept or create, demand deposits shall maintain legal reserves at the rate of 25% of such deposits. Said banks, however, may continue to maintain legal reserves of 19% for all other types of deposits; provided that this rate may be changed subject to the outcome of a review currently being conducted by the Department of Economic Research; and"
This Circular shall take effect immediately.
JOSE L. CUISIA, JR. Governor
More in BSP Circulars
- Amending Circular No. 1389, as amended(BSP Circular No. 53)
- To include equity investments by member banks in, and loans by member banks to, the BAP Credit Guaranty Corporation (BCGC)(BSP Circular No. 1385)
- Reduction in liquidity reserve requirement against peso demand, savings, time deposits and deposit substitute liabilities of UBs, KBs and NBQBs(BSP Circular No. 319)
- Amendments to the Manual of Regulations for Non-Bank Financial Institutions on the Enhancement of Corporate Governance Guidelines for Non-Stock Savings and Loan Associations(BSP Circular No. 1115)
- Increase in Statutory/Legal Reserve Requirements of Peso Deposit Liabilities and Deposit Substitutes(BSP Circular No. 732)
- To delete from the coverage of said Circular peso borrowings of single proprietorships owned by non-Filipino citizens and resident foreign nationals doing business in the Philippines(BSP Circular No. 7)
- United Arab Emirates' dirham as one of the currencies convertible with the Central Bank(BSP Circular No. 1373)
- Amendments to Circular No. 398 governing credit card operations of banks and subsidiary credit card companies(BSP Circular No. 454)
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