PNB Pledges Adherence to Govt.’s Treasury Single Account (TSA) Agreement

The Philippine National Bank (PNB) signed two (2) Memoranda of Agreement (MOA) with the Bureau of Treasury (BTr), Bangko Sentral ng Pilipinas (BSP), Bureau of Internal Revenue (BIR) and Bureau of Customs (BOC) on the implementation of the Treasury Single Account (TSA) last November 25, 2013.

PNB, along with thirty (30) other BSP-accredited banks, signed a MOA regarding the TSA framework on BOC collections. The Bank also signed a MOA about the TSA framework on revenue collections together with eighteen (18) other banks. Both MOA identify the obligations of the parties involved with regard to the implementation of the TSA, unified structure of government bank accounts that aims to consolidate and optimize the use of government cash resources, which is slated for 2014.

Present during the signing were PNB President and Chief Executive Officer (CEO) Omar Byron T. Mier, National Treasurer Rosalia V. De Leon, BSP Governor Armando M. Tetangco, Jr., BIR Commissioner Kim S. Jacinto-Henares, BOC Commissioner Rozzano Rufino B. Biazon and Department of Finance (DOF) Secretary Cesar V. Purisma.

During the event, PNB was also named one of the ten (10) Best Performing Government Securities Eligible Dealers. Finance Secretary Cesar Purisma and National Treasurer Rosalia De Leon presented the award to PNB President and CEO Omar Mier.