Please be advised that the Monetary Board, under its Resolution No. 1179 dated November 24, 1994, decided to lift the requirements under Circular-Letter dated June 9, 1994 on:

1. The yearly ceiling of US $50,000 per individual for automated tellering machines and credit cards availments; and

2. The requirement for banks to report availment through these facilities two days after the occurrence of each transaction in a prescribed form.

This Circular-Letter shall take effect immediately.

Adopted: 8 Dec. 1994

(SGD.) GABRIEL C. SINGSON
Governor

As a clarification to the last paragraph of Circular No. 50, series 1994, on the revisions in the reporting requirements for thrift banks, we remind all thrift banks to continue to submit the non-periodic reports indicated in the attached list.^*

These reports have to be submitted only when a transaction/event occurs, as differentiated from the periodic reports, TB Forms 1 to 20, listed under Circular No. 50 which have to be submitted on a regular frequency.

Adopted: 8 Dec. 1994

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^* Text available at Office of the National Administrative Register, U.P. Law Complex, Diliman, Quezon City.