The Monetary Board, in its Resolution No. 1393 dated December 20, 1991, amended Item 1 of Circular No. 1300 dated July 29, 1991, so as to read as follows:

œThe System shall cover all incoming US Dollar remittances via Telegraphic Transfer (T/T) in the amount of US$10,000.00 or less received by a Philippine bank from its correspondent banks abroad for credit/payment to beneficiaries ™ accounts maintained with other local banks. 

This Circular shall take effect immediately.

Adopted: 10 Jan. 1992

(SGD.) JOSE L. CUISIA, JR.
Governor