291 BORROWINGS FROM THE GOVERNMENT
a. STDs and deposit substitutes of specialized government banks and private banks arising from their lending operations under the special financing programs of the Government and/or international FIs; and
b. Funds held by participating financial institutions (PFIs) under the GSIS Housing Loan Programs: Provided, That the agreement between the GSIS and the conduit banks specify that such funds may be held by the conduit banks for a period of not more than seven (7) calendar days prior to their release to the borrower and prior to the remittance by the conduit banks of payments to the GSIS.
c. Borrowings by accredited FIs under the Wholesale Lending Program for SMEs of the SBGFC.