AMENDING BSP CIRCULAR NO. 1389
National Administrative Register August 31, 1994 [ BSP CIRCULAR NO. 48, s. 1994, September 17, 1994 ]
Pursuant to Monetary Board Resolution No. 832 dated August 31, 1994, Section 71.1.(b) of BSP Circular No. 1389 is hereby amended so as to delete the 2 years of profitable operations requirement for a bank to be authorized to operate an expanded foreign currency deposit unit (EFCDU).
Adopted: 17 Sept. 1994
(SGD.) GABRIEL C. SINGSON
Governor