Regular Banking Week Requirement
- Banks must observe a minimum five-day banking week.
- The specific banking days within the week are chosen by the bank.
Discretion to Operate Beyond Five Days
- Banks may open and transact banking business for more than five days a week, including Saturdays and Sundays.
- This is subject to compliance with other relevant laws.
- Requirement to report such operations to the supervising and examining department of the Supervision and Examination Sector (SES) of the Bangko Sentral ng Pilipinas (BSP).
- Banks must regularly open and conduct business on these additional days.
Operation During Holidays
- Banks may operate on official and special holidays if these days fall on the bank’s selected regular banking days.
- No need to notify the BSP when opening on such holidays.
- Operation subject to compliance with other relevant laws.
Daily Banking Hours
- Banks must transact business for not less than six (6) hours per day.
- Banks can select their operating hours within 8:00 AM to 8:00 PM.
- Exceptions for banks at Ninoy Aquino International Airport and Malabon, Navotas fishports.
Extended Operation Hours on Additional Days
- Banks operating beyond the five-day week must still comply with the six-hour minimum for the five regular banking days.
- For additional days beyond the five-day minimum, banks may choose any number of banking hours.
- Banking hours for all days of operation must be regularly observed.
- Banks must report the hours of operation to the BSP through the SES.
Immediate Effectivity
- The circular and its amendments take effect immediately upon issuance.
Legal Authority
- Implemented pursuant to Monetary Board Resolution No. 980 dated August 30, 1995.
- Issued by the Governor of BSP, Gabriel C. Singson, on September 11, 1995.