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    DOF Department Circular No. 003.2022 Veterans Bank

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    Maria Charessa

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    DOF Department Circular No. 003.2022 Veterans Bank

    Uploaded by

    Maria Charessa
    30 views2 pages

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    DOF-Department-Circular-No.-003.2022-Veterans-Bank

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    30 views2 pages

    DOF Department Circular No. 003.2022 Veterans Bank

    Uploaded by

    Maria Charessa

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    Republic of the Philippines

    DEPARTMENT OF FINAI{CE
    Roxas Boulevard Comer Pablo Ocampo, Sr Street
    Manila l0(H

    DEPARTMENT CIRCULAR NO. 00 3 . 2022


    AUGUST 19,2022

    TO HEADS OF ALL NATIONAL GOVERNMENT AGENCIES, GOVERNMENT -


    OWNED OR -
    CONTROLLED CORPORATIONS/ GOVERNMENT
    FINANCIAL INSTITUTIONS AND PROVINCIAL, CITY, MUNICIPAL AND
    BARANGAY TREASURER (LOCAL TREASURERS)

    SUBJECT INCLUSION OF THE PHIL]PPINE VETERANS BANK AS AN AUTHORIZED


    GOVERNMENT DEPOSITORY BANK AMENDING SECTION 5.2 OF
    DEPARTM ENT CIRCU tAR O02.2O22

    Section 1. lnclusion of the Philippine Veterans Bank as an Authorized


    Government Depository Bank (AGDB).

    Pursuant to Section 28 of Republic Act No. 71597 (2021), otherwise known as the
    "Philippine Veterans Bank Act", declaring the Philippine Veterans Bank to be an
    official government depository, and authorizing the Secretary of Finance, among
    others, if they so desire, to make and actually maintain deposits of any government
    or corporate funds with the Philippine Veterans Bank, Section 5.2 of Department
    Circular No. 002-2022 is hereby amended to read as follows:

    "GOCCs and LGUs, specifically allowed by laws, rules, and regulations to retain
    income andlor for operations andlor working balances, shall deposit and maintain
    Government Funds with any of the following banks, without the need of prior
    approval from the Secretary of Finance, in the case of GOCCs, or from the Executive
    Director of the BLGF, in the case of LGUs:

    "a. Land Bank ofthe Philippines;


    "b. Development Bank of the Philippines;
    "c. Overseas Filipino Bank;
    "d. Al Amanah lslamic lnvestment Bank of the Philippines; and
    "e. Philippine Veterans Bank. ,9
    INCLUSION OFTHE PHIUPPINE VETtRANS AANK AS AT{ AUTHORIZED GOVERNMENT DEPOSITORY BANl(
    AMENOING SECTION 5.2 OF DEPARTMENT CIRCUTAR 0O2.2022

    Page 1 of 2
    "Provided, however, that the inclusion of the Philippine Veterans Bank as an AGDB
    shall be effective only for a period of two (2) years from effectivity of this Circular."

    Section 2. Publication and Effectivity.

    This Circular shall take effect immediately upon publication in the Offlcial Gazette or
    in a newspaper of general circulation in the Philippines.

    BENJAMIN E. DIOKNO
    Secretary

    sEP 0 I 2022

    INCIUSION OFTHE PHILIPPII{E VETERAT{S BANX AS AN AUTHORIZED GOVERNMENT DEPOSITORY BAiIK


    AMEI{DING SECTIOiI 5.2 OF DEPARTMENT CIRCULAR OO2-2022

    ?age 2 of 2

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