CBP Circular No. 915-83

January 28, 1983 CBP CIRCULAR NO. 915-83 The Monetary Board, in its Resolution No. 156 dated January 21, 1983 approved the amendment of Books I, II, III and IV of the Manual of Regulations for Banks and Other Financial Intermediaries (Manual of Regulations), as follows: SECTION 1. The first sentence of item b of Sections 1389 (Book I), 2389 (Book II) and 4601Q (Book IV) of the Manual of Regulations is hereby amended to read as follows: "Except as otherwise provided under item 1 hereof, purchases and sales in the open market shall be made only through accredited government securities dealers." SECTION 2. New items are hereby added as item 1 of Section 1389 (Book 1), 2389 (Book II) and 4601Q (Book IV) of the Manual of Regulations to read as follows: "1. The purchase and sale of government securities by the National Treasurer and non-bank government-owned or-controlled corporations shall be made only with the Central Bank, government banks, or other government-owned or-controlled corporations." SECTION 3. Section 1601 (Book 1) of the Manual of Regulations is hereby amended to read as follows: "SECTION 1601. Purchase and Sale of Government Securities . The purchase and sale of government securities shall be subject to the provisions of Section 1389 to Subsection 1389.4." SECTION 4. Section 2601 (Book II) of the Manual of Regulations is hereby amended to read as follows: "SECTION 2601. Purchase and Sale of Government Securities . The purchase and sale of government securities shall be subject to the provisions of Section 2389 to Subsection 2389.4." SECTION 5. The title of Section 3601 (Book III) of the Manual of Regulations is hereby amended to read as follows: "SECTION 3601. Purchase and Sale of Government Securities ." SECTION 6. A new subsection is hereby added as Subsection 3601.2 of Book III of the Manual of Regulations to read as follows: "SUBSECTION 3601.2. Purchase and Sale by the National Treasurer and Government Corporations . The purchase and sale of government securities by the National Treasurer and non-bank government-owned or-controlled corporations shall be made only with the Central Bank, government banks, or other government-owned or-controlled corporations." prLL SECTION 7. Section 4601N (Book IV) of the Manual of Regulations is hereby amended to read as follows: "SECTION 4601N. Purchase and Sale of Government Securities . Non-banks without quasi-banking functions may be accredited as government securities dealers and can have access to the Central Bank open market operations subject to the rules prescribed in Sec. 4601Q." SECTION 8. This Circular shall take effect immediately. For the Monetary Board: (SGD.) GABRIEL C. SINGSON Senior Deputy Governor