The Central Bank of the Philippines issued a supervisory memorandum to all banks and non-banks with quasi-banking functions providing that the reserve weeks 19–25 December 2025 and 26 December 2025–1 January 2026 will be treated as a single reserve week, reflecting the Christmas and New Year holidays, for purposes of computing compliance with reserve requirements. This single reserve week approach applies to the computation of reserve position and reserve deficiencies and associated sanctions under Sections 254 and 255 of the Manual of Regulations for Banks and Sections 214-Q and 215-Q of the Manual of Regulations for Non-Bank Financial Institutions. It also applies to determining “abuse” of the privilege of offsetting reserve deficiencies against excess reserves over the combined period.
Central Bank of the Philippines 2025-12-12
Central Bank of the Philippines treats 19 December 2025 to 1 January 2026 as a single reserve week for reserve requirement compliance
The Central Bank of the Philippines issued a supervisory memorandum treating the reserve weeks of 19–25 December 2025 and 26 December 2025–1 January 2026 as a single reserve week for compliance with reserve requirements. This applies to reserve position computations, deficiencies, and related sanctions under relevant banking and non-bank financial institution regulations, as well as the determination of "abuse" of offsetting reserve deficiencies.