BSP CIRCULAR LETTER, September 28, 1993
MAINTENANCE OF A SPECIAL ACCOUNT WITH BSP ACCOUNTING DEPARTMENT
1. In case any bank desires to fund its special account (Demand Deposit — Circular No. 1288 as amended) with cash deposits, it shall deposit directly with BSP Cash Department. A copy of either the deposit slip or a written advice of such cash deposit shall be furnished the Accounting Department for credit to the special account, and the appropriate SES Department. Any further deposit or withdrawal of such cash deposit shall be advised the Accounting Department and the appropriate SES Department.
2. In case any bank desires to fund its special account (Demand Deposit — Circular No. 1288 as amended) by transfers of amounts from its “Due from BSP” account, the bank shall advise the BSP Accounting Department, copy furnished the appropriate SES department. Such transfers to the Special Account shall not be available for reserve or other purposes unless appropriately advised by the bank.
The balances of the special account under Demand Deposit – Circular No. 1288, as amended shall be included in all reports to BSP among the Funds Set Aside for Small Enterprises Credit Required Under R.A. No. 6977.
Please be guided accordingly.
Adopted: 28 Sept. 1993
(Sgd.) FELICIANO L. MIRANDA, JR.
Deputy Governor