BSP CIRCULAR NO. 254, July 31, 2000
MEASUREMENT OF RESERVE REQUIREMENT
2000 and June 2, 2000, respectively, decided to adopt the lagged system
in the measurement of a bank’s or quasi-bank’s reserve requirement with
target implementation of live data on the first Friday of October 2000.
Sections X253 and 4246Q of the Manual of Regulations for Banks and
the Manual of Regulations for Non-Bank Financial Intermediaries,
respectively, are hereby amended by adding a new subsection for Section
X253 and a new (third) paragraph for Section 4246Q to read as follows:
“Section X253.1 Measurement of Reserve Requirement.
The required reserves in the current period (reference reserve
week) shall be computed based on the corresponding levels of deposit and
deposit substitutes liabilities of the prior week.”“Section 4246Q Reserves against Deposit Substitutes.
xxx xxx xxx
The required reserves in the current period (reference reserve
week) shall be computed based on the corresponding levels of deposit
substitutes liabilities of the prior week.”
For strict compliance.
Adopted: 31 July 2000
(SGD.) ARMANDO L. SURATOS
Officer-In-Charge