The Central Bank of the Philippines issued a memorandum to all banks and non-banks with quasi-banking functions setting out how to compute reserve requirements around the 2025 Holy Week, including treating the periods 11 April 2025 to 17 April 2025 and 18 April 2025 to 24 April 2025 as a single reserve week. Maundy Thursday (17 April 2025) and Good Friday (18 April 2025) are treated as non-reserve days. The reserve position at the close of business on 16 April 2025 (Holy Wednesday) will be carried over through 20 April 2025 (Easter Sunday). For purposes of determining “abuse” of the privilege of offsetting reserve deficiencies against excess reserves, the two stated reserve weeks will be treated as one reserve week.
Central Bank of the Philippines 2025-04-03
Central Bank of the Philippines designates 11 April to 24 April 2025 as a single reserve week and sets Holy Week reserve computation rules
The Central Bank of the Philippines issued a memorandum detailing reserve requirement computations for banks and non-banks during the 2025 Holy Week. Maundy Thursday and Good Friday are designated as non-reserve days, with the reserve position from Holy Wednesday carried over to Easter Sunday. The two reserve weeks will be treated as one for assessing potential abuse of offsetting reserve deficiencies.