1.   In addition, interest rates on foreign currency deposits might differ from those on sterling deposits, partly because of expectations about future exchange rates.

2.   Foreign currency deposits, mainly held in dollars, are now equal to about half of peso deposits.

3.   In the Philippines, for example, interest on foreign currency deposits is exempt from the withholding taxes levied on local currency deposits.

4.   Singson said the foreign currency deposits are kept mainly by families of overseas contract workers, export companies and companies receiving foreign investments.

5.   Foreign currency deposits started to surge in July, when tensions between Taiwan and China mounted as China tested missiles near the island, the newspaper said.

6.   Higher rates tend to make the dollar more attractive by increasing returns on U.S. currency deposits and short-term dollar denominated securities.

7.   In addition its savings and foreign currency deposits were very high, they added.

8.   It also plans to offer foreign currency deposits, credit card services and housing loans soon.

9.   Singson reasoned that with the taxing of FCDU interest income, the imposition of a reserve requirement would prevent foreign currency deposits from being viable.

10.   The Senate has also added provisions on taxing foreign currency deposits and allowing the opening of certain bank accounts.