Data transmission of the existing Weekly Report on Required

CIRCULAR NO. 249 Series of 2000

The Monetary Board in its Resolution No. 562 dated April 7, 2000, approved for adoption the data transmission by participating rural/cooperative banks in electronic media or in diskette of the existing Weekly Report on Required and Available Reserves (WRRAR) in accordance with the diskette reporting guidelines in Schedule 1.

The Board also approved the adoption of the Updated Manual of Accounts and the revised reportorial requirements of rural/cooperative banks, attached as Annexes A and B, respectively, and the timetable for the adoption by rural/cooperative banks of the updated manual and the revised report forms, as follows:

a)    Updated Manual of Accounts (Annex A)

- not later than the reporting period ending July 31, 2000 (initial reporting period)

Revised report forms as follows:

i.    basic financial reports for head office and branches (Annex B) to be prepared in accordance with the data formulation in Annex B-1:

No.

Report Title

Initial Reporting Period Covered

Schedule Date of Transmission

1

Consolidated Statement of Condition (CSOC) – Main Report (Form 2A) and Schedules 1 – 6

Month ended September 30, 2000

October 21, 2000

2

Consolidated Statement of Income and Expenses (CSIE) – (Form 3A)

Quarter ended September 30, 2000

October 21, 2000

3

Statement of Condition (SOC) – By Banking Unit – Main Report (Form 2B) and Schedule 1

Quarter ended September 30, 2000

October 21, 2000

4

Statement of Income and Expenses (SIE) – By Banking Unit (Form 3B)

Quarter ended September 30, 2000

October 21, 2000

Notes: Above-mentioned reports shall thereafter be submitted in accordance with the schedule indicated in Appendix 6-C of the Manual of Regulations for Banks.

For banks opting to implement diskette reporting, parallel-run for two reporting periods shall be allowed for each type of report, i.e., submission in both hard copy and diskette, after which submission in hard copy shall be dropped. Otherwise, submission shall be in the prescribed revised forms above mentioned.

ii.   adoption of the Consolidated Daily Report of Condition (Annex B) in lieu of the Weekly Report of Required and Available Reserves (WRRAR):

No.

Report Title

Initial Reporting Period Covered

Schedule Date of Transmission

5

Consolidated Daily Report of Condition (CDRC) – Main Report (Form 1) and Proof List

Week from October 6, 2000 to October 12, 2000

October 18, 2000

Notes: CDRC report shall thereafter be submitted in accordance with the WRRAR schedule indicated in Appendix 6-C of the Manual of Regulations for Banks.

To implement the scheme, a two-week parallel run shall also be allowed each rural/cooperative bank wherein they shall be required to submit the CDRC and the existing WRRAR, after which they shall drop the submission of the WRRAR. Those who would prefer diskette reporting of the CDRC shall initially be required to submit, for two reporting periods, in hard copy and in diskette, after which they shall drop the submission in hard copy.

iii.  adoption of the new format of other periodic reports being required from  rural/cooperative banks (Annex C) within 60 days from date of the implementing circular.

c)    Other related reports (listed below) as contained in the Manual of Unified Reports (Annex D) as defined in the Usage and Frequency Matrices (Annex E):

No. Title of Documents (Manual of Unified Reports)

1.

Unified General Ledger (Account Coding Scheme)

2.

General Ledger Template

3.

General Ledger File Structure

4.

Subsidiary Ledger Structures (for selected accounts)

This Circular shall supercede any other BSP issuances inconsistent herewith.

FOR THE MONETARY BOARD:

RAFAEL B. BUENAVENTURA Governor