ADVISORY: |
The Supreme Court E-Library will undergo a system
maintenance on March 28-31, 2024 and will be inaccessible during this period. Thank you for your understanding! |
CONTACT: |
Supreme Court of the Philippines Library Services, Padre Faura, Ermita, Manila, Philippines 1000 |
(632) 8524-2706 |
libraryservices.sc@judiciary.gov.ph |
(NAR) VOL. 9 NO. 2 / APRIL - JUNE 1998
[ BSP CIRCULAR NO. 155, March 13, 1998 ]
EXPORTERS DOLLAR FACILITY (EDF)
Pursuant to Item No. 2 of Monetary Board Resolution No. 227 dated February 11, 1998, encouraging banks to maximize the utilization of the $500 million Exporters Dollar Facility (EDF) by increasing the allowable interest spread for availments under this program from 1% to 2%, Item No. 1 of Circular No. 68, dated April 12, 1995 is amended to read as follows:
Adopted: 13 March 1998
(SGD.) GABRIEL C. SINGSON
Governor
1. The interest rate shall be based on the prevailing three-month LIBID, to be reviewed and set every three (3) months: Provided, that the bank's spread shall not exceed 2% p.a., after applicable taxes on foreign exchange loans.This Circular shall take effect immediately.
Adopted: 13 March 1998
(SGD.) GABRIEL C. SINGSON
Governor