DEPOSITORY CORPORATIONS SURVEY p                            
  as of periods indicated                            
  in million pesos                            
                                       
            LEVELS   FLOWS   GROWTH RATES (%)  
          Item Jul-07   Dec-07 Jun-08 Jul-08   Jul08 - Dec07 Jul08 - Jun08 Jul08 - Jul07   Jul08 - Dec07 Jul08 - Jun08 Jul08 - Jul07  
   
  1.  NET FOREIGN ASSETS 1,644,801 1,640,300 1,862,471 1,849,656 209,356 -12,815 204,855 12.8 -0.7 12.5  
    A.   Bangko Sentral ng Pilipinas 1,242,693 1,364,929 1,592,914 1,577,494 212,565 -15,420 334,801 15.6 -1.0 26.9  
     Net International Reserves 1,277,451 1,397,378 1,625,517 1,608,837 211,459 -16,680 331,386 15.1 -1.0 25.9  
    Foreign Assets 1,277,975 1,397,665 1,648,235 1,631,393 233,728 -16,842 353,418 16.7 -1.0 27.7  
    Foreign Liabilities 524 287 22,718 22,556 22,269 -162 22,032 7,759.2 -0.7 4,204.6  
     Medium & Long-Term Foreign Liabilities 34,758 32,449 32,603 31,343 -1,106 -1,260 -3,415 -3.4 -3.9 -9.8  
    B.  Other Depository Corporations  402,108 275,371 269,557 272,162 -3,209 2,605 -129,946 -1.2 1.0 -32.3  
    Foreign Assets 891,071 746,458 750,146 709,948 -36,510 -40,198 -181,123 -4.9 -5.4 -20.3  
    Foreign Liabilities 488,963 471,087 480,589 437,786 -33,301 -42,803 -51,177 -7.1 -8.9 -10.5  
   
  2. NET DOMESTIC ASSETS 2,304,001 2,440,500 2,399,143 2,314,055 -126,445 -85,088 10,054 -5.2 -3.5 0.4  
    A.  Net Claims on Residents (Net Domestic Credits) 3,064,633 3,161,647 3,296,847 3,244,207 82,560 -52,640 179,574 2.6 -1.6 5.9  
  Net Claims on the Public Sector (Public  Sector) 1,097,959 1,027,410 1,097,299 1,026,010 -1,400 -71,289 -71,949 -0.1 -6.5 -6.6  
    National Government 841,728 766,626 846,987 766,556 -70 -80,431 -75,172 0.0 -9.5 -8.9  
      Credits 1,061,413 1,082,482 1,166,306 1,173,094 90,612 6,788 111,681 8.4 0.6 10.5  
      CB BOL 0 0 0 0 0 0 0 - - -  
      Foreign exchange Receivables 0 0 0 0 0 0 0 - - -  
      T-IMF accounts -54,854 -50,917 -57,935 -56,454 -5,537 1,481 -1,600 -10.9 2.6 -2.9  
      Deposits -164,831 -264,939 -261,384 -350,084 -85,145 -88,700 -185,253 -32.1 -33.9 -112.4  
    Local Government and Other Public Entities 256,232 260,784 250,312 259,454 -1,329 9,142 3,223 -0.5 3.7 1.3  
  Claims on Other Sectors (Private Sector) 1,966,674 2,134,237 2,199,547 2,218,196 83,960 18,649 251,523 3.9 0.8 12.8  
   
    B.  Net Other Items -760,632 -721,147 -897,704 -930,152 -209,005 -32,448 -169,520 -29.0 -3.6 -22.3  
  Revaluation n.a. n.a. 0 0 #VALUE! #DIV/0! #VALUE!  
  Capital and Reserves n.a. n.a. 0 0 #VALUE! #DIV/0! #VALUE!  
  Other Assets/Liabilities n.a. n.a. 0 0 #VALUE! #DIV/0! #VALUE!  
   
  3. LIQUIDITY AGGREGATES (TOTAL LIQUIDITY) 3,948,801 4,080,800 4,261,613 4,163,710 82,910 -97,903 214,909 2.0 -2.3 5.4  
  A. M4 3,825,319 3,925,410 4,090,403 4,049,064 123,654 -41,339 223,745 3.2 -1.0 5.8  
  Broad-Money Liabilities (M3) 3,018,382 3,174,365 3,197,480 3,142,601 -31,764 -54,878 124,219 -1.0 -1.7 4.1  
  Currency Outside Depository Corporations and Transferable Deposits (Narrow Money) 827,346 886,040 901,516 900,890 14,850 -626 73,545 1.7 -0.1 8.9  
  Other Deposits (Quasi-Money) 2,150,617 2,243,005 2,247,020 2,193,229 -49,776 -53,791 42,612 -2.2 -2.4 2.0  
  Securities Other Than Shares Included in Broad Money (Deposit  Substitutes) 40,419 45,320 48,943 48,482 3,162 -461 8,063 7.0 -0.9 19.9  
  Transferable & Other Deposits in Foreign Currency (FCDs-Res) 806,937 r 751,045 892,924 906,463 155,418 13,539 99,526 20.7 1.5 12.3  
  B. Liabilities Excluded from Broad-Money (Other Liabilities) 123,482 155,390 171,209 114,646 -40,744 -56,563 -8,836 -26.2 -33.0 -7.2  
  Bills  Payable 121,587 153,495 169,314 112,751 -40,744 -56,563 -8,836 -26.5 -33.4 -7.3  
  Restricted Deposits 1,895 1,895 1,895 1,895 0 0 0 0.0 0.0 0.0  
    Deposits with Other Depository Corporations Under Liquidation 1,895 1,895 1,895 1,895 0 0 0 0.0 0.0 0.0  
  Narrow Money 827,346 886,040 901,516 900,890 14,850 -626 73,545 1.7 -0.1 8.9  
  Currency Outside Depository Corporations (Currency in Circulation) 273,633 347,671 316,444 305,681 -41,990 -10,763 32,048 -12.1 -3.4 11.7  
  Transferable Deposits (Demand Deposits) 553,713 r 538,369 585,072 595,209 56,840 10,137 41,496 10.6 1.7 7.5  
  Other Deposits (Quasi-Money) 2,150,617 2,243,005 2,247,020 2,193,229 -49,776 -53,791 42,612 -2.2 -2.4 2.0  
  Savings Deposits 1,484,834 1,505,557 1,317,058 1,301,975 -203,581 -15,083 -182,858 -13.5 -1.1 -12.3  
  Time Deposits 665,783 r 737,448 929,962 891,254 153,805 -38,709 225,470 20.9 -4.2 33.9  
                       
  p   Preliminary                            
  n.a.  Not Available  
  r For consistency, in view of the change in definition and coverage of accounts, prior year's data were revised to include a) foreign currency deposits of government - owned /controlled corporations under transferable and other deposits in foreign currency , b) cash letters of credit and reserve balances of other financial corporations under transferable deposits, and c) marginal deposits under  time deposits.  
  Source:  Department of Economic Statistics  
                                       
CHECK: (NFA+NDA)-LIQUIDITY AGGREGATES 0 0 0 1 0 0 0
Note:  Details may not add up to total due to rounding off.