Amendments to the Regulatory Relief on the Non-Reporting of Past Due and Non-Performing Loans under Memorandum No. M-2020-008, as Amended by Memorandum No. M-2020-032

OFFICE OF THE DEPUTY GOVERNOR 087 MEMORANDUM NO. M-2020-___ To : All BSP-Supervised Financial Institutions (BSFIs) Subject : Amendments to the Regulatory Relief on the Non-Reporting of Past Due and Non-Performing Loans under Memorandum No. M-2020-008, as Amended by Memorandum No. M-2020-032 The Monetary Board, in its Resolution No. 1535 dated 26 November 2020, approved amendments to BSP regulations related to the regulatory relief on the non- reporting of past due and non-performing loans. Section 1. Annex A of Memorandum No. M-2020-008 dated 14 March 2020, as amended by Memorandum No. M-2020-032 dated 27 April 2020, is hereby further amended to, read as follows: 1. xxx 2. Upon grant by BSFIs of a temporary grace period for payment or upon approval of the restructuring, but subject to reporting to Bangko Sentral, exclusion from the past due and non-performing classification, the loans of borrowers in affected areas which should have been reclassified as past due under Sec. 304/303-Q of the MORB/MORNBFI, as of 8 March 2020, the date of declaration of the President of the state of public health emergency under Presidential Proclamation No. 922, including those loans becoming past due or non- performing until 31 December 2020. xxx 3. xxx Section 2. Memorandum No. M-2020-061 dated 3 August 2020 is hereby amended to read, as follows: xxx xxx The supervisory expectations likewise set out the prudential treatment of the implementation of xx the relief measures granted by the Bangko Sentral under Memorandum No. M-2020-008, as amended. xxx A. Mabini St., Malate 1004 Manila, Philippines • (632) 708-7701 • www.bsp.gov.ph • [email protected]

Section 3. Annex A of Memorandum No. M-2020-061 is hereby amended to read, as follows: xxx Section 3. Treatment of Relief Measures1 Granted by the Bangko Sentral xxx _______________ 1 As provided under BSP Memorandum No. M-2020-008 – Regulatory Relief for BSFIs affected by the COVID-19, as amended xxx For guidance and implementation. Digitally signed by DG Chuchi G. Fonacier Date: 02 December 2020 CHUCHI G. FONACIER Deputy Governor 02 December 2020