Report on exposure to real estate industry

CIRCULAR LETTER Series of 1997

TO : All Commercial Banks and Thrift Bank

Effective quarter ended December 31, 1996, a report on exposure to real estate industry shall be submitted as a schedule to the Consolidated Statement of Condition. Attached as Annexes A.1 and A.2 are the format of the report and its corresponding data structure which shall be submitted electronically by commercial banks. Attached as Annexes B.1 and B.2 are the format of the report and its corresponding data structure which thrift banks shall initially submit in hard copy form until diskette-file reporting is required.

Also attached are the guidelines in accomplishing the report (Annex C). Deadline for submission of reports for the quarters ended December 31, 1996 and March 31, 1997 shall be ten (10) working days from date of issuance of this circular letter.

The additional information required in this report should be included in the minimum contents of the standard subsidiary ledger for the loan portfolio of commercial and specialized government banks as prescribed by Circular 108.

For strict compliance.

ALBERTO V. REYES Deputy Governor