108 OG No. 3, 303 (January 16, 2012)
SUBJECT: | INCREASE IN STATUTORY/LEGAL RESERVE REQUIREMENTS OF PESO DEPOSIT LIABILITIES AND DEPOSITS SUBSTITUTES |
These new reserve requirement ratios shall take effect on the reserve week beginning on 24 June 2011.
BANK/FINANCIAL INSTITUTION ACCOUNTSSTATUTORY/LEGAL
RESERVESLIQUIDITY
RESERVESFrom To Universal/Commercial Banks -Demand
-"NOW"
-Savings
-Time
-Deposit substitutes (DS)8% 9% 11% -DS evidenced by repo agreements1
-Long-term Negotiable Certificate of Time Deposits (LTNCTDs)2% 3% 0% Thrift Banks -Demand
-"NOW"
-Savings
-Time
-Deposit substitutes4% 5% 2% -DS evidenced by repo agreements1
-LTNCTDs2% 3% 0% Rural Banks/Cooperative Banks -Demand
-"NOW"4% 5% 0% -Savings
-Time1% 2% -LTNCTDs 2% 3% NBFIs with quasi-banking functions -Deposit substitutes 8% 9% 11% -DS evidenced by repo agreements1 2% 3% 0% 1 Refer to deposit substitutes evidenced by repo agreements covering government securities up to the amount equivalent to the adjusted Tier 1 capital of the bank/quasi-bank and which comply with the conditions provided under Subsection X253.1/ 4253Q of the Manual of Regulations for Banks/Manual of Regulations for Non-Bank Financial Institutions