CIRCULAR NO. 312, December 07, 2001
LIQUIDITY RESERVE REQUIREMENT
National Administrative Register December 7, 2001
The Monetary Board, in its
Resolution No. 1930 dated December 6, 2001, approved the reduction in
the liquidity reserve requirement against peso demand, savings, time
deposits and deposit substitute liabilities of universal banks (UBs) and commercial banks (KBs) and non-bank financial intermediaries with quasi-banking functions (NBQBs), by two (2) percentage points from 11 percent to 9 percent. The regular reserve requirements are maintained at 9 percent.
Resolution No. 1930 dated December 6, 2001, approved the reduction in
the liquidity reserve requirement against peso demand, savings, time
deposits and deposit substitute liabilities of universal banks (UBs) and commercial banks (KBs) and non-bank financial intermediaries with quasi-banking functions (NBQBs), by two (2) percentage points from 11 percent to 9 percent. The regular reserve requirements are maintained at 9 percent.
The required liquidity reserves
may be maintained in the form of short-term market yielding government
securities purchased directly from the Bangko Sentral Ng Pilipinas (BSP) – Treasury Department, pursuant to Circular 10 dated December 29, 1993.
This Circular shall take effect on December 7, 2001.
Adopted: 11 Dec. 2001
(SGD.) RAFAEL B. BUENAVENTURA
Governor