January 23, 2007
BSP MEMORANDUM NO. M-2007-002
| TO | : | All Banks and Non-Bank Financial Institutions Under BSP Supervision |
| SUBJECT | : | Delivery of Government Securities to the Investor's Principal Securities Account with the Registry of Scripless Securities |
The Monetary Board, in its Resolution No. 42 dated 11 January 2007, approved the delivery of government securities by the selling bank and/or non-bank financial institution ("NBFI") under the supervision of the Bangko Sentral ng Pilipinas ("BSP") to an investor's Principal Securities Account with the Registry of Scripless Securities ("RoSS") through the Client Interface System facility as compliance with the requirement of effective delivery under Circular Nos. 392, 450, 457 and 524 dated 23 July 2003, 06 September 2004, 14 October 2004 and 31 March 2006, respectively, subject to the following conditions:
(a) Banks/NBFIs, acting either as an accredited government securities eligible dealers or licensed government securities dealers, shall execute the attached Memorandum of Agreement ("MOA") with the Bureau of the Treasury ("BTr") regarding the creation of the Principal Securities Account with the RoSS on or before 31 January 2007. The MOA between...
