CBP Circular No. 990-84

January 13, 1984 CBP CIRCULAR NO. 990-84 AMENDING CIRCULAR NO. 925 The Monetary Board, in its Resolution No. 34 dated January 6, 1983, approved to amend the provisions of Books I-IV of the Manual of Regulations for Banks and Other Financial Intermediaries governing the reserves against deposit and deposit substitute liabilities. SECTION 1. Item b of Sections 1254, 2254 and 3254 of the Manual of Regulations are hereby amended by adding the following provisions as their third paragraph: "Premyo Savings Bonds (Regular and Biglang Bahay Series) shall continue to be eligible as reserves of banks against deposit liabilities in accordance with the following schedule: Required Reserve Ceiling on Requirement Government Securities July 1, 1983-June 30, 1984 37.5 50 July 1, 1984-June 30, 1986 18.75 25 Effective July 1, 1986, said bonds shall no longer be eligible as reserves." SECTION 2. Subsections 1283.1 and 2283.1 of the Manual of Regulations are hereby amended by adding the following provisions as their third paragraph: "Premyo Savings Bonds (Regular and Biglang Bahay Series) shall continue to be eligible as reserves of banks against deposit substitute liabilities in accordance with the following schedule: January 1, 1984-June 30, 1984 37.5 50 July 1, 1984-June 30, 1986 18.75 25 Effective July 1, 1986, said bonds shall no longer be eligible as reserves." LibLex SECTION 3. Section 4254N of the Manual of Regulations is hereby amended by adding the following provision as its second paragraph: "Premyo Savings Bonds (Regular and Biglang Bahay Series) shall continue to be eligible as reserves of non-stock savings and loan associations against deposit liabilities in accordance with the following schedule: Per Cent Of Required Reserve Ceiling on Requirement Government Securities January 1, 1984-June 30, 1984 37.5 50 July 1, 1984-June 30, 1986 18.75 25 Effective July 1, 1986, said bonds shall no longer be eligible as reserves." SECTION 4. Subsection 42830.1 of the Manual of Regulations is hereby amended by adding the following provision as its third paragraph: "Premyo Savings Bonds (Regular and Biglang Bahay Series) shall continue to be eligible as reserves of NBQBs against deposit substitute liabilities in accordance with the following schedule: LibLex January 1, 1984-June 30, 1984 37.5 50 July 1, 1984-June 30, 1986 18.75 25 Effective July 1, 1986, said bonds shall no longer be eligible as reserves." For the Monetary Board: (SGD.) JAIME C. LAYA Governor