Securities Trading Transactions

MEMORANDUM NO. M-2006-005

To : All Concerned Banks

Subject : Securities Trading Transactions

Effective upon publication of this Memorandum, a daily report ("Report") on banks' securities trading transactions shall be submitted in hard copy to the Supervision and Examination Department I (SED I) and in soft copy (in excel format) via electronic mail to [email protected] using the prescribed format in Annex "A".

The Report shall be signed/certified correct by the Treasurer or Head of Treasury and shall be submitted before BSP closing hours on the banking day immediately succeeding the reference date.  An initial report covering the period 01 December 2005 to 30 June 2006 shall be submitted as follows -

Period Covered

Submission Deadline

01 December 2005 - 30 April 2006

21 July 2006

01 May - 30 June 2006

upon effectivity of the Memorandum

The Reports shall be subject to post verification by the Bangko Sentral which shall include validation with records of trading markets and/or systems where the transactions were traded/reported (e.g., Bloomberg and Philippine Dealing & Exchange Corp.) and/or central reporting system(s) where the transactions were reported/published or brokers whose services were engaged relative to any securities transactions.

Banks failing to submit the Report within the prescribed deadline shall be subject to monetary penalties applicable for delayed reporting under existing regulations.  Moreover, submission of incomplete, erroneous, uncertified or improperly certified Reports shall be considered non-reporting, subject to applicable penalties for amended/delayed reports.  For purposes of imposing monetary penalties, the required certification shall be classified as a Category A-1 report.

AMANDO M. TETANGCO, JR. Governor