Clarification on the submission of separate Audited Financial Statements for Bank proper and FCDU Books
CIRCULAR LETTER Series of 2003
TO : All Banks
Subject : Clarification on the Submission of Separate Audited Financial Statements for Bank Proper and FCDU Books
For uniform compliance with the reportorial requirements under Appendix 6 of the Manual of Regulations for Banks, which reads:
"Audited Financial Statements (AFS) of the Bank proper and FCDU for the past year prepared by the external auditor xxx."
the above requirement is hereby clarified to mean that the following should be submitted:
Consolidated AFS report of Regular Banking Unit and FCDU; and
AFS report for FCDU books.
ALBERTO V. REYES Deputy Governor
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