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(NAR) VOL. 13 NOS. 1-4 / OCTOBER-DECEMBER 2002
[ BSP CIRCULAR NO. 355, OCTOBER 9, 2002, October 09, 2002 ]
LIQUIDITY FLOOR FOR AUTHORIZED GOVERNMENT DEPOSITORY BANKS OTHER THAN BSP
"Subsection X240.6. Liquidity floor - Unless otherwise prescribed by the Monetary Board, authorized government depository banks other than the BSP, and authorized private banks shall, inclusive of the required reserves against deposits and/or deposit substitutes, maintain a fifty percent (50%) liquidity floor with respect to deposits of, borrowing from, and all other liabilities to, the Government and government entities, in the form of transferable government securities which represent direct obligations of the National Government.
"x x x."
This Circular shall take effect immediately.
Adopted: 9 Oct. 2002
(SGD.) ALBERTO V. REYES
Officer-in-Charge