Pursuant to Monetary Board Resolution No. 907 dated August 31, 1990, purchases by local banks of US $200 Million (Series of 1990) Treasury Bills of the Republic of the Philippines shall not be sourced from the bank’s regular accounts. Such purchases, however, may be sourced from the bank’s respective Foreign Currency Deposit Units (FCDUs), without need for prior Central Bank approval.

Such purchases shall be reported under IOS Form 1 (Account A.16) and accompanying Schedule 8 and SES I/VI Form 2A.1 and 2 (Account No. 15.c) and accompanying Schedule 4 p.3 (for commercial banks) and under CBP 6.40.03 (for thrift banks).

This Circular shall take effect immediately.

Adopted: 7 Sept. 1990

(SGD.) JOSE L. CUISIA, JR.
Governor