Supreme Court E-Library
Information At Your Fingertips


  View printer friendly version

(NAR) VOL. III NO. 3 / JULY - SEPTEMBER 1992

[ BSP CIRCULAR LETTER, March 16, 1992 ]

PURCHASE OF FOREIGN EXCHANGE BEYOND NORMAL BANKING HOURS



Please be advised that the Governor has authorized branches of authorized agent banks to purchase foreign exchange from the public beyond the normal banking hours and days as follows –
Banking days 3:00 PM to 8:00 PM
     
Saturdays, Sundays
and Holidays
10:00 AM to 7:00 PM
subject to the following conditions:

1. The buying of foreign exchange shall be the only activity that will be carried out by the branches beyond banking hours and days;

2. The purchase of foreign exchange shall be covered, on a per transaction basis, by the Bank’s own Official Receipt, as provided for under Section 8 of CB Circular no. 1318 dated January 3, 1992;

3. The Bank shall include the transactions in its report under Schedule 4 of IOS Form I (Consolidated Daily Summary of Foreign Exchange Assets and Liabilities) and submit the same to the Foreign Exchange Regulations Department (FERD); and

4. The Bank shall inform the Director of the appropriate Supervision and Examination Department of the Central Bank of the Philippines of the Exact or final location where these services will be offered as well as the actual start or date when the proposed buying of foreign exchange beyond banking hours and days shall take place.

Adopted: 16 Mar. 1992

(SGD.) FELICIANO L. MIRANDA, JR.
Acting Deputy Governor
© Supreme Court E-Library 2019
This website was designed and developed, and is maintained, by the E-Library Technical Staff in collaboration with the Management Information Systems Office.