Operational Relief on the Submission of Prudential Reports to the BSP-Financial Supervision Sector

MEMORANDUM NO. M-2022-__ 006 OFFICE OF THE DEPUTY GOVERNOR FINANCIAL SUPERVISION SECTOR To : All BSP-Supervised Financial Institutions Subject : Operational Relief on the Submission of Prudential Reports to the BSP-Financial Supervision Sector The Monetary Board (MB), in its Resolution No. 98 dated 20 January 2022, approved the following guidelines governing the submission of prudential reports by BSP-supervised financial institutions (BSFIs) to the BSP-Financial Supervision Sector (FSS) in view of the COVID-19 situation in the country: A. Level 1 and Transactional Reports 1. The identified Level 1 and Transactional Reports (Annex A) shall continue to be submitted to the BSP-FSS in accordance with the timelines prescribed under existing regulations. B. Other Reports 2. The submission of the remaining Level 1, Level 2 and Transactional Reports (Annex B) that fall due from the months of January to March 2022 shall be suspended by one (1) quarter. 3. Regular submission of the Level 1, Level 2 and Transactional Reports that were deferred shall resume for reports that fall due starting from the month of April 2022, in accordance with the timelines prescribed under existing regulations. 4. The submission of the Level 1, Level 2 and Transactional Reports that fall due from January to March 2022 and were deferred shall resume starting April 2022. Level 1 Reports whose submission was deferred in the first quarter of 2022 shall be submitted together with the reports due for submission in April 2022, following the prescribed deadlines under existing regulations.

5. Meanwhile, Level 2 and Transactional Reports that fall due from January to March 2022 and were deferred shall be submitted at any time on or before 30 April 2022, except for the Demand Deposit Account (DDA) Reconciliation Statement which shall be submitted on or before 28 February 2022. 6. In lieu of the submission of the Report on Basic Security Deposit Transactions during the months of January to March 2022, Trust Entities and Personal Equity and Retirement Account (PERA) Administrators, shall submit a notification of the intended deposit, withdrawal, replacement, or redemption of securities at least two (2) banking/business days prior to date of securities transfer to [email protected], [email protected], and to the Group Head and Division Head of the appropriate supervising department. The format for the subject line shall be: “BSD-Transactional <Full Name of Trust Entity/PERA Administrator>, yyyymmdd”. 7. In the case of Level 2 Reports or Transactional Reports that cover several reporting periods, the BSFI may consolidate such reports into a single submission. The submitted reports will be counted as one (1) report for purposes of determining compliance with submission deadlines. C. Other Guidelines 8. A BSFI that does not have any transactions or exposures to report will submit a Certification signed by the BSFI’s President/Chief Executive Officer or his/her designated officer stating that the BSFI has no relevant transactions/exposures to report, together with a list of affected Level 2 and Transactional Reports falling due within the months of January to March 2022. The Certification and list will be submitted to the appropriate supervising department of the FSS on or before 30 April 2022. 9. The BSP-FSS may require a BSFI to submit a report earlier than the extended submission deadlines, if warranted. The BSFI shall be given a reasonable period to submit the same to the appropriate supervising department of the BSP. 10. Reports of BSFIs shall continue to be submitted electronically, in line with existing guidelines on the submission of reports under Memorandum No. M-2021-0036 dated 28 June 2021.

11. The notarization requirement for certifications shall continue to be waived. For compliance. Digitally signed by Chuchi G. Fonacier Date: 2022.01.21 19:36:09 +08'00' CHUCHI G. FONACIER Deputy Governor 21 January 2022

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