BSP CIRCULAR LETTER, December 20, 2000

[ BSP CIRCULAR LETTER, December 20, 2000 ]

REPORTS OF EXPANDED COMMERCIAL BANKS AND SPECIALIZED GOVERNMENT BANKS

Pursuant to the provision of Circular 108 dated May 9, 1996 and amended by Circular 201 dated May 1, 1999, on the rationalization and simplification of the reports required by Bangko Sentral Ng Pilipinas, all expanded commercial banks, commercial banks and specialized government banks shall submit, effective for reports as of December 31, 2000, the General Ledger using the GL Template in lieu of the Main Schedule of the Monthly Consolidated Statement of Condition (CSOC) and the Quarterly Consolidated Statement of Income and Expenses (CSIE), respectively. However, the usual supporting schedule shall continue to be submitted pending future phase in of reports using the Subsidiary Ledger (SL) template.

All Commercial Banks shall abide by the following guidelines:

1. The GL report including the schedules attached to the former CSOC and CSIE reports shall be directly submitted electronically to the Supervisory Reports and Studies Office (SRSO) in accordance with existing deadlines using the following CC-Mail address:

CC Mail Address: CIR108

Subject: (Bank Name) GL File

Date: As of Reference Date of Report

2. Upon transmission of the General Ledger Template File of the CSOC and CSIE, the bank shall also fax the notarized Control Prooflist on the contents of the data sent via electronic mail to BSP-SRSO. A copy of the Control Prooflist of the CSOC and CSIE are attached for your ready reference. (Annexes 1 & 2)

3. Banks shall be responsible for reconciling the GL report against the various supporting schedules prior to submission to SRSO in accordance with prescribed validation rules. Banks may secure from SRSO a copy of the BSP validation program for this purpose.

4. SRSO shall run an official validation test on the reports submitted using the same program provided to banks. Banks shall be promptly advised on the validation results and required to correct reports when necessary.

5. The additional information required under Circular Letter dated June 10, 1999, as attached, particularly the Non-Performing Loans (Circular 202 dated May 27, 1999), which under the present set up is integrated as an Additional Information in the main report/schedule of the Consolidated Statement of Condition shall be submitted electronically under a separate file pending future integration into the GL/SL Template File reporting. File name and structure is attached for your ready reference (Annex 3).

6. The timetable for implementing the SL Template File reporting system by all commercial banks shall be as follows:

Name of SL File

Parallel Testing

Live Implementation

Loan Ledger System Interbank Loans & Accounts Receivable

March, 2001 Reports

June, 2001 Reports

Deposit Liabilities/Due to Local Banks Ledger

April, 2001 Reports

June, 2001 Reports

Investment/Equity Investment System

May, 2001 Reports

June, 2001 Reports

Due from Other Banks/Head Office, Branches and Agencies

June, 2001 Reports

September, 2001 Reports

Bills Payable

July, 2001 Reports

- do -

Various Liabilities

August, 2001 Reports

- do -

Contingent Accounts

September, 2001 Reports

October, 2001 Reports

It is understood that the related schedules attached to the corresponding subsidiary ledger system shall be discontinued when the corresponding SL Template reporting is implemented, as scheduled above.

All queries related to this implementation may be addressed to SRSO c/o Ms. Milagros F. Ayuyao, at 524-7754 or Mr. Arsenio N. Co at 523-1516. Queries may also be faxed to 523-34-61.

For strict compliance.

Adopted: 20 Dec. 2000

(SGD.) ALBERTO V. REYES

Deputy Governor