The applicable interest rate on foreign currency deposits of thrift banks, Development Bank of the Philippines and Associated Bank with the Central Bank in compliance with the 15% reserve requirement for foreign currency deposit liabilities, as provided under Circular-Letter dated 28 August 1990 as per M.B. Resolution No. 850 dated 20 August 1990, is hereby adjusted from 4% p.a. to 2-1/2% p.a.

This Circular shall take effect on 31 January 1992.

Adopted: 29 Jan. 1992

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