Amendment to BSP Trust Rules on Reserves

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BSP MEMORANDUM: Amendment to BSP Trust Rules on Reserves

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Title Source: Supreme Court: Amendment to BSP Trust Rules on Reserves

Law: Bsp Memorandum

Decision Date: Oct 1, 1997

The BSP Memorandum, effective October 1, 1997, amends the Trust Rules to require financial intermediaries to maintain a 10% reserve against peso-denominated common trust funds and Trust and Other Fiduciary Accounts, with additional liquidity reserves of 6% and 5% imposed in subsequent months.

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