Maximum tenor of forward contracts
Bangk na
OFFICE OF THE GOVERNOR
circuLar -- letter
Series of 2003
TO: ALL AUTHORIZED AGENT BANKS
In its Resolution No. 343 dated 13 March 2003, the Monetary Board decided that, effective immediately. forward contracts, i.e., outright forward and forward leg of swap, to cover long-term foreign currency requirements shall have a maximum tenor of six (6) months.
This policy shall be subject to quarterly review by the BSP
For the Monetary Board:
w M
AMANDO M. TETANGCO, JR. Officer-in-Charge 3 March 2003
MAG-IMPOK SA BANGKO MAYNILA, PILIPINAS 1004 . Tel No. 524-70-11 trunkline - URL: www.bsp.gov.ph - e-mail: [email protected]
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