Regulatory Alerts2024-12-11
M-2024-038: Single Reserve Week from 20 December 2024 to 02 January 2025 and the Corresponding Computation for the Single Reserve Week
The Office of the Deputy Governor for Financial Supervision issued Memorandum No. M-2024-038 to all banks and non-banks with quasi-banking functions. The directive consolidates the reserve weeks of 20 December 2024 to 26 December 2024 and 27 December 2024 to 02 January 2025 into a single reserve week for computing reserve compliance and determining abuse of offsetting privileges. This measure is implemented in consideration of the Christmas and New Year holidays to streamline regulatory calculations during the festive period.
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