BSP Circular on Repo Deposit Substitutes

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BSP CIRCULAR NO. 444: BSP Circular on Repo Deposit Substitutes

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Title Source: Supreme Court: BSP Circular on Repo Deposit Substitutes

Law: Bsp Circular No. 444

Decision Date: Aug 18, 2004

BSP Circular No. 444 mandates that deposit substitutes through repurchase agreements (repos) of government securities, up to the adjusted Tier 1 capital of banks and quasi-banks, are subject to a 2% statutory reserve requirement, contingent upon compliance with documentation and custody regulations.

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