Updated Guidelines on the Implementation of the Enhanced Comprehensive Credit and Equity Exposures Report (COCREE) of 2023

FINANCIAL SUPERVISION SECTOR I OFFICE OF THE DEPUTY GOVERNOR 043 MEMORANDUM NO. M-2024-____ To : ALL BANKS, NON-BANK FINANCIAL INSTITUTIONS WITH QUASI- BANKING FUNCTIONS, AND TRUST CORPORATIONS Subject : Updated Guidelines on the Implementation of the Enhanced Comprehensive Credit and Equity Exposures Report (COCREE) of 2023 Pursuant to Circular No. 1184 dated 15 December 20231, the following updated guidelines shall be observed for the implementation of the Enhanced Comprehensive Credit and Equity Exposures Report (COCREE) of 2023, referred to as COCREE 2.0: 1) The new schedule for the live implementation of COCREE 2.0 is prescribed in the table below: Type of BSP-supervised Live Implementation of COCREE 2.0 Reporting Financial Institution (BSFI) Reporting Due Frequency Period Date Ending 07 April 2025 31 January 2025 Ending 06 May 2025 28 February 2025 Universal/Commercial Monthly Ending Bank (U/KB), Digital Bank 30 May 2025 (DGB), Thrift Bank (TB), 31 March 2025 Non-bank Financial Ending 23 June 2025 Institution with Quasi- 30 April 2025 banking Functions (NBQB), Ending 15 July 2025 and Trust Corporation (TC) 31 May 2025 Ending 11 August 2025 30 June 2025 Ending 31 July 2025 and onward 25 business days Rural Bank (RB) and Ending after reference Cooperative Bank (Coop) Quarterly 30 September 2025 reporting period and onward 2) Pilot testing for the entire month of December 2024 is suspended due to system maintenance activities. It will resume in January 2025 in a new sandbox environment on a clean slate2. The 2025 pilot testing schedule and other related onboarding requirements for the new sandbox environment of COCREE 2.0 will be later released by the Credit Reporting System Unit (CRSU). 1 / Other related regulatory issuances are BSP Memorandum Nos. M-2023-038 dated 18 December 2023, M-2024-018 dated 13 June 2024, and M-2024-027 dated 20 September 2024 2 / Submissions in the previous pilot testing environment will not be accessible in the new sandbox environment. Submissions in the new sandbox environment will be treated as new submissions. Page Classification: GENERAL

3) Only records of reporting periods prior to the scheduled live implementation but after period ended 30 June 2024 can be used for pilot testing purposes. Records submitted during the pilot phase are for testing purposes only. Pilot testing of the entire COCREE 2.0 data set is urged to optimize the benefits of the pilot exercise. A subset of the entire COCREE 2.0 data set is however permissible during the pilot phase with the understanding that it represents a substantial portion of the actual data points and fields for testing. The use of dummy data is highly discouraged. 4) Submission of the 2021 COCREE (or COCREE 1.0) of U/KBs, their subsidiary TBs/NBQBs/TCs, and DGBs shall continue but will no longer be required only upon live implementation of COCREE 2.0. Penalties for reporting violations of COCREE 1.0 shall no longer apply as long as such violations are corrected and found compliant before the next reporting period becomes due or within the allowable period provided by the CRSU, as applicable. 5) Penalties for reporting violations of COCREE 2.0 shall not be imposed during the pilot testing phase but will be strictly enforced after the grace period of three (3) reporting periods from the start of the live implementation. Only BSFIs that are actively participating in the pilot test in accordance with the provisions of item 3 shall be eligible for the grace period. Queries on the pilot test and/or clarifications about COCREE 2.0, can be referred to CRSU at (632) 5306-2561, (632) 5306-3128 and [email protected]. For compliance and proper guidance. Digitally signed by Chuchi G. Fonacier Date: 2024.12.19 11:00:48 +08'00' CHUCHI G. FONACIER Deputy Governor 19 December 2024 ___