Submission of Quarterly Report on Residential Real Estate Loans (RRELs) by Universal/Commercial Banks (UBs/KBs) and Thrift Banks (TBs) for the Generation of the Residential Real Estate Price Indext (RREPI)

Bencxo SENTRa'L Ne Prurprruas OFFICE OF THE GOVERNOR ctRcuLAR NO. 8e2 Series of 2015 Subject SUBMISSION OF QUARTERTY REPORT ON RESIDENTIAT REAI ESTATE LOANS (RRELs) BY UNIVERSAL/COMMERCIAI BANKS (UBs/KBs) AND THRIFT BANKS (TBs) FOR THE GENERATION OF THE RESIDENTIAI REAL ESTATE PR|CE rNDEX (RREP|) Pursuant to Monetary Board Resolution No. 1789 dated 29 October 2OI5, Section X192 and Appendix 6 of the Manual of Regulations for Banks (MORB) are hereby amended. Section 1. Policy Statement The Bank Quarterly Report on RRELs for RREPI is designed to provide information forthe generation of the RREPI which would provide a valuabletool in assessingthe real estate and credit market conditions in the country. Section 2. Coverage and Scope All universal/commercial banks (UBs/KBs) and thrift banks (TBs) shall submit the Bank Quarterly Report on RRELs for RREPI on a solo basis. This report covers residential real estate loans granted to individual households for the purpose of financing the acquisition of housing units and any associated land that is or will be occupied by the borrower. Residential real estate loans granted to individual households to finance the purchase of vacant lots, construction and improvement of housing units, and ancillary real estate activities are not included. Section 3. Submission of Bank Quarterly Report on RRELs for RREPI The Bank Quarterly Report on RRELs for RREPI shall be classified as a Category A-3 Report under Subsection XL92.I of the MORB. A new Subsection XL92.t7 is hereby added to Section X192 under Part One - Organization, Management and Administration, ltem N. Risk Management of the MORB, to read as follows: "X192.L7. Submission of Bank Quarterly Report on Residential Real Estate Loans for the Generation of the Residential Real Estate Price Index. To generate the Residential Real Estate Price Index (RREPI) as a valuable tool in assessing the real estate and credit market conditions in the country, all universal/commercial banks (UBs/KBs) and thrift banks (TBs) on a solo basis, shall submit a quarterly report to the Bangko Sentral A. MabiniSt., Malate 1004 Manila, Philippines . (63217O877OL. www.bsp.gov.ph . [email protected] page 1 Of g

covering the following data on properties acquired through residential real estate loans granted by banks: Data ltem Unit of Expression l. Month of Loan Granted/Booked Number ll. Location of Property Number lll. Type of Property Number lV. Type of Housing Unit Number V. Appraised Value of Housing Unit Peso Amount Vl. Total Floor Area Number Vll. Number of Floors Number Vlll. Number of Bedrooms Number lX. Effective Age of Housing Unit Number X. Appraised Value of Lot Peso Amount Xl. Total Lot Area Number Xll. Total Appraised Value of Property Peso Amount Xlll. Housing Segment Number XlV. Acquisition Cost Peso Amount XV. Name of Developer Number XVl. Name of Other Developer Number" Appendix 6 of the MORB is hereby amended by adding the Bank euarterly Report for the Residential Real Estate Price Index with the following information: Appendix 6, MORB: A. UBs/KBs DES/lOD Reports: Category A-3 Form No. DES - RREPI Form 1- MOR Ref. xI92.I7 Report Title Bank Quarterly Report on Residential Real Estate Loans for the Generation of the Residential Real Estate Price Index Frequency Quarterly Submission Deadline 20th banking day from reference quarter Submission Procedure DES - e-mail B. TBs DES/lOD Reports: Category A-3 Form No. DES - RREPI Form L MOR Ref. xL92.L7 Report Title Bank Quarterly Report on Residential Real Estate Loans for the Generation of the Residential Real Estate Price Index Frequency Quarterly Submission Deadline 20th banking day from reference quarter Submission Procedure DES - e-mail

The Reporting Form and Guide are in Annexes A and B of this Circular, respectively. Section 4. Sanctions Banks failing to submit the reports required under this Subsection within the prescribed deadline shall be subject to monetary penalties applicable for delayed reporting under existing regulations for Category A-3 reports. Moreover, submission of erroneous reports shall be considered non-reporting, subject to said penalties for delayed reporting. Section 5. Mode and Manner of Submission Specific guidelines on the modes and manner of submission of the Certification (hardcopy) and the Bank Quarterly Report on RRELs (softcopy)for RREpt shall be covered by a separate issuance. Section 6. Effectivity Clause This Circular shall take effect fifteen (15) calendar days following its publication either in the official Gazette or in a newspaper of general circulation. FOR THE MONETARY BOARD: I /Jll^fr\- AMANgo M. TETANGCO, JR. I Governor lE- November 2015

{ DES-RREPI Form 1 Category: Category A-3 Deadline: 20 banking days after end of reference quarter Submission: Soft copy for e-mail to DES, BSP BANK QUARTERLY REPORT ON RESIDENTIAL REAL ESTATE LOANS FOR THE GENERATTON OF THE RESTDENTTAL REAL ESTATE pRtCE TNDEX (RREpt) Name of Bonk REPORT FOR THE PERIOD: Quorter Yeor No. of Loans Granted: REPUBLTC OF THE PHtLtPPtNES ) ) s.s. We solemnly swear that all matters set forth in this report are true and correct to the best of my knowledge and belief. Prepared by: Certified Correct by: [Signature over printed name] [Signature over printed name] IDesignation] IDesignation] Valid lD No. [e.g. TIN/SSS] Valid lD No. [e.g. TIN/SSS] SUBSCRIBED AND SWORN TO BEFORE ME this day of 20 affiants exhibiting their current identification cards as indicated above. Doc. No.: Page No.: Book No.: Series of

DES-RREPI Form 1 - Reporting Template

. DES i RREPI Form 1 Reporting Guide BANK QUARTERLY REPORT ON RESIDENTIAL REAL ESTATE TOANS (RREts) FOR RESTDENTTAL REAI ESTATE pRtCE TNDEX (RREpt) Report in the appropriate column the following requested information: Column (1) Line Number - The line number refers to the assigned consecutive counting number for each individual residential real estate loan granted during the reference quarter, starting at 1 for the first loan entry in the reporting form. Column (2) Date of loan Granted/Booked - Report the month when the residential real estate loan was granted or booked. Columns (3) - (6) Location of Property - Report the location of the property on the residential real estate loan granted by indicating the region, province, city/municipality in Column 3, barangay in Column 4, street name in Column 5, and subdivision name or project name in Column 6 where the property is located. Column (7) Type of Property - Report the type of property on the residential real estate loan granted classified as to the following: Type of Property Definition 1 New newly-built or never been occupied housing units excluding foreclosed properties 2 Pre-owned previously owned and occupied housing units excluding foreclosed properties 3 Foreclosed housing units repossessed by bank due to owners' default payments on the housing loan. This covers all foreclosed properties which are sold to individuals. Column (8) Type of Housing Unit - Report the type of property on the residential real estate loan granted, classified as to the following: Type of Housing Unit Definition 1 Single detached A dwelling unit with all four walls not attached to any other dwelling or structure (except its own garage or shed). lt has open space on all sides, and has no dwellings either above it or below it. Single attached A dwelling unit with at least one side attached to a wall (usually a firewall). 2 Duplex A single structure divided into two separate dwelling units by a common wall extending from the floor to the ceiling. 3 Townhouse/ A structure, usually of two to three storeys, Accesoria/Detached made up of a row of dwelling units entirely row house separated by walls with independent entrance from the outside for each dwelling units or separated by open spaces. Page 6 of I

DES -'RREPI Form 1 Reporting Guide 4 Apartment A room, suite of rooms in a building, or row houses that is/are being rented out as housing units 5 Condominium A structure, usually a high-rise building, consisting of multiple dwelling units which are owned individually but the land, and other areas and facilities are commonly owned Column (9) Appraised Value of Housing Unit - Report the appraised value of the housing unit on the residential real estate loan granted in pesos per square meter. The appraised value of a housing unit refers to the real estate appraiser's opinion of the current worth of a housing unit based on factors such as area, location, improvements, and amenities at a given point in time. Generally, this value is arrived at by using one of three methods: (1) Cost approach, (2) lncome approach, or (3) Market comparison approach. A real estate appraiser is a duly registered and licensed person who, for a professional fee, compensation or other valuable consideration, performs or renders, or offers to perform services in estimating and arriving at an opinion of or acts as an expert on real estate values, such services of which shall be finally rendered by the preparation of the report in acceptable written form. As per Circular No. 855 dated 29 October 2O!4, real estate used as collateral for restructured loans amounting to P1.0 million (for simple financial institutions) and P5.0 million (for all other financial institutions) should be appraised by an independent appraiser. Column (10) Total Floor Area - Report the total floor area of the housing unit on the residential real estate loan granted in square meters. The total floor area refers to the floor area of enclosed and open floor areas of the housing unit. Column (11) Number of Floors - Report the number of floors of the housing unit on the residential real estate loan granted. The number of floors refers to the number of storeys of the housing unit that are used for residential pur.poses excluding the rooftop terrace, lofts and basements. lf the residential property on the residential real estate loan granted is a condominium unit or a housing unit with no second floor, put"I". Column (12) Number of Bedrooms - Report the number of bedrooms of the housing unit on the residential real estate loan granted. The number of bedrooms refers to the number of rooms in the housing unit excluding living room, kitchen (cooking area), dining room, bathroom, and hallways. Quarters for the household helpers are included in the number of bedrooms. Column (13) Effective Age of Housing Unit - Report the effective age of the housing unit on the residential real estate loan granted in number of years. The effective age of the housing unit refers to appraiser's estimate of the physical condition of a building. The actual age of a building may be shorter or longer than its effective age. lf the property is newly-built and never been occupied, put "0".

DES -'RREPI Form 1 Reporting Guide Column (14) Appraised Value of Lot - Report the appraised value of the lot on the residential real estate loan granted in pesos per square meter. The appraised value of a lot refers to the real estate appraiser's opinion of the current worth of a lot based on factors such as area, location, improvements, and amenities at a given point in time. lf not applicable particularly if the residential property on the residential real estate loan granted is a condominium unit, put "0". Column (15) Total Lot Area - Report the total area of the lot on the residential real estate loan granted in square meters. The total lot area refers to the total area of a tract or parcel of land where the housing unit is built including lawns, walkways, and driveways. lf not applicable particularly if the residential property on the residential real estate loan granted is a condominium unit, put "0". Column (16) Total Appraised Value of Property - Report the total appraised value of the house and lot on the residential real estate loan granted in pesos. Column (17) Housing Segment - Report the housing segment of the property on the residential real estate loan granted based on the price ceiling as defined under existing guidelines of the Housing and Urban Development Coordinating Council (HUDCC). Column (18) Acquisition Cost - Report the acquisition cost of the residential property on the residential real estate loan granted, in pesos. This refers to the contract price or the actual selling price agreed upon between purchaser and seller at the time the contract was signed or deposit made. Column (19) Name of Developer - Report the name of developer of the residential property on the residential real estate loan granted. lf not applicable, select "Not Applicable". A real estate developer refers to a company that invests in and develops the urban or suburban potentialities of real estate, especially by subdividing the land into home sites and then building houses and selling them. Column (20) Name of Other Developer (not in the list) - Report the name of developer of the residential property not specified in column (19).