Circular Letter, Series of 2006, of the Bangko Sentral ng Pilipinas, Relative to Department of Finance Order No. 27-05, Dated December 9, 2005

October 13, 2009 BLGF MEMORANDUM CIRCULAR NO. 027-09 TO : All Regional Directors of this Bureau; Local Treasurers of Metro Manila; Provincial, City, and Municipal Treasurers; and All Others Concerned SUBJECT : Circular Letter, Series of 2006, of the Bangko Sentral ng Pilipinas, Relative to Department of Finance Order No. 27-05, Dated December 9, 2005 For the information, guidance and compliance of all concerned is the hereto attached Circular Letter, series of 2006, issued by the Bangko Sentral ng Pilipinas, directing all banks to take appropriate measures to ensure that government offices and/or agencies that maintain deposit accounts with them have complied with Department of Finance Order No. 27-05, dated December 9, 2005, requiring, among others, all Provincial, City and Municipal Treasurers, to secure prior approval of the Department of Finance to open and maintain depository accounts with banks other than authorized government-owned depository banks, otherwise, affected deposit accounts may have to be closed. The Regional Directors of this Bureau are hereby instructed to disseminate copies of this Memorandum Circular together with the subject Circular Letter of the Bangko Sentral ng Pilipinas, to all Provincial, City and Municipal Treasurers within their respective regional jurisdiction, who in turn, are likewise hereby directed to provide copies for their respective Provincial Governors, City and Municipal Mayors and Members of the local sanggunian. For strict compliance. (SGD.) MA. PRESENTACION R. MONTESA Executive Director ATTACHMENT Circular Letters Date Issued: 03.14.2006 CIRCULAR LETTER Series of 2006 TO : All Banks SUBJECT : DOF Department Order No. 27-05 Dated 9 December 2005 The Department of Finance (DOF) issued on 9 December 2005 the revised guidelines for the deposit and maintenance of government funds with banks under Department Order (DO) No. 27-05. Said DO revised the earlier guidelines issued by the DOF under DO No. 32-03. Under the revised guidelines, Provincial, City and Municipal Treasurers, Commissioners of BIR and BQC. Heads of attached agencies of the DOF, and Heads of all Government-Owned and/or Controlled Corporations (GOCCs) are required to secure prior DOF approval if they are to deposit their funds or maintain depository accounts with banks other than the Land Bank of the Philippines and the Development Bank of the Philippines. Banks concerned are therefore reminded to take appropriate measures to ensure the government offices and/or agencies that maintain deposit accounts with them have complied with this recent DOF directive, otherwise, affected deposit accounts may have to be closed. Attached, for information and guidance, is a copy each of DOF DO Nos. 27-05 and 32-03 dated 9 December 2005 and 10 November 2003, respectively. For compliance. NESTOR A. ESPENILLA, JR. Deputy Governor Download Signed Document For pdf copies of signed issuances not yet posted in this website, kindly e-mail the Administrative Services Department at [emailprotected] ESDHCa DOF Department Order No. 027-05 December 9, 2005 DOF Department Order No. 032-03 November 10, 2003