Regulatory Alerts2025-04-03
M-2025-011: Single Reserve Week from 11 April 2025 to 24 April 2025 and the Corresponding Guidelines on the Computation of Reserve Position for the Single Reserve Week
The Office of the Deputy Governor of the Bangko Sentral ng Pilipinas issues Memorandum M-2025-011 to establish a single reserve week for the period from 11 April 2025 to 24 April 2025. This directive treats Maundy Thursday and Good Friday as non-reserve days and mandates that the reserve position computed on Holy Wednesday be carried over through Easter Sunday. Additionally, the two consecutive weeks are consolidated to determine any abuse of the privilege to offset reserve deficiencies against excess reserves.
Classification: GENERAL Page
OFFICE OF THE DEPUTY GOVERNOR I FINANCIAL SUPERVISION SECTOR MEMORANDUM NO. M-2025-___ To : ALL BANKS AND NON-BANKS WITH QUASI-BANKING FUNCTIONS In consideration of the 2025 Holy Week, we issue this Memorandum to provide guidance in computing the reserve requirement for reference weeks 11 April 2025 to 17 April 2025 and 18 April 2025 to 24 April 2025. Please be guided by the following:
- The following dates are proclaimed as regular holidays, thus considered as non-reserve days: Under Proclamation No. 727 dated 30 October 2024 • 17 April 2025, Thursday – Maundy Thursday • 18 April 2025, Friday – Good Friday
- The reserve position as computed at the close of business of 16 April 2025 (i.e., Holy Wednesday) shall be carried over up to 20 April 2025 (i.e., Easter Sunday); and
- The reserve weeks 11 April 2025 to 17 April 2025 and 18 April 2025 to 24 April 2025 shall be considered as a single reserve week for the purpose of determining "abuse" of the privilege of offsetting reserve deficiencies against excess reserve during that reserve week. For Information and guidance. CHUCHI G. FONACIER Deputy Governor ___ April 2025 Subject : Single Reserve Week from 11 April 2025 to 24 April 2025 and the Corresponding Guidelines on the Computation of Reserve Position for the Single Reserve Week 03