The Monetary Board, under its Resolution No. 1588 dated 16 December 2005, approved the amendment to Circular No. 308 dated 15 November 2001, as amended, so as to require any person who brings into or out of the Philippines foreign currency, as well as other foreign exchange denominated bearer monetary instruments, to declare the same in writing and to furnish information on the source and purpose of the transport of such currency or monetary instrument.

As used herein, œother foreign exchange-denominated bearer monetary instruments  shall refer to the following foreign exchange-denominated instruments in bearer form whereby title thereto passes to another by endorsement, assignment or delivery: traveler ™s checks, other checks, drafts, notes, money orders, bonds, deposit certificates, securities, commercial papers, trust certificates, custodial receipts, deposit substitute instruments, trading orders, transaction tickets and confirmation of sale/investment.

The said required declaration shall be duly accomplished using the attached Foreign Currency and Other Foreign Exchange-Denominated Bearer Monetary Instruments (FCOFEDBMI) Declaration Form.

This Circular shall take effect fifteen (15) days after its publication in a newspaper of general circulation.

This Circular also amends the two Circular-Letters dated 22 January 2002 and 28 October 2003.

Adopted: 19 Jan. 2006

(SGD.) AMANDO M. TETANGCO, JR.
Governor