Electronic Transmission of the Credit Reports of Commercial Banks

CIRCULAR LETTER Series of 2006

TO              :  All Commercial Banks SUBJECT    :  Electronic Transmission of the Credit Reports of Commercial Banks

In line with the new reportorial requirements under R.A. No. 8791 (General Banking Law of 2000), the attached Circular No. 29, Series of 1994 is hereby amended as follows: Commercial Banks are required to submit in electronic form their credit reports to the Department of Economic Statistics (DES) starting with reports covering the 2nd  semester of 2005.

The following guidelines shall be observed:

1.   All entities shall comply with the revised data structures shown in Annex 1.  The report shall be transmitted either in (1) Excel format, saved as (.xls) using the prescribed filename TCRKB.xls  (sample formats attached as Annex 2);  or in (2) DBF format, saved as (.dbf) using the prescribed filename TCROSHDR.dbf and TRCROS.dbf  for the Outstanding Loans data and TCRGRHDR.dbf and TCRGRANT.dbf for the Loans Granted  data;

2.   The mode of transmission and the corresponding BSP address shall be:

Mode of Transmission           BSP Address                Subject E-mail                         [email protected]       TCRKB:CCYYMM

(Example of Subject: TCRKB:200506 (for the 1st semester);  TCRKB:200512 for the 2nd semester)

3.   The deadline of submission for the 2nd semester 2005 reports shall be extended to March 31, 2006.   The succeeding reports starting 1st semester of 2006, shall follow the submission deadline of 15 banking days after reference semester;

4.   Upon electronic transmission of the reports, the commercial bank shall also be required to submit a Control Proof List  (sample copies attached as Annex 3A for Outstanding Loans and Annex 3B for Loans Granted) duly signed by the authorized officer of the institution, and shall be faxed to DES (523-7985) on the same day.  Upon confirmation receipt of report in the BSP e-mail box, a return receipt shall automatically be sent to the bank as proof of report transmission;

5.   An acknowledgement receipt shall be issued by DES for reports that strictly follow the prescribed format and have successfully passed the validation process. Reports with exception/errors shall automatically be rejected by the system and an error list shall be provided to the commercial bank to serve as guide in rectifying errors verified.  Delayed and amended reports shall be considered as late reports and shall be subject to the usual penalty provision; and,

6.   DES shall provide the validation tool for reports in .dbf format and Excel templates (as data entry facility) for commercial banks starting January 2006.  For authentication, all commercial banks are required to confirm their email addresses with DES on or before January 31, 2006.

Queries/clarifications on the new method of submission may be coursed to Ms. Rebecca E. Abis, with telephone no. 525-8903 and email [email protected] .

For strict compliance.

DIWA C. GUINIGUNDO Deputy Governor