Submission of the quarterly Statement of Condition and Statement of Income and Expenses of branches and other offices of all banks

CIRCULAR NO.  276 Series of 2001

To streamline the procedure on the submission of the quarterly Statement of Condition and Statement of Income and Expenses of branches and other offices of all banks, the Monetary Board in its Resolution No. 282 dated February 16, 2001 approved the amendment to Section X162.8.a of the Manual of Regulations for Banks, to read as follows:

“Section  X162.8  Bangko Sentral offices, where reports are submitted.  Submission of BSP periodic or call reports shall be as follows:

a.   All banking offices shall submit the required reports excluding the Quarterly Statement of Condition and Statement of Income and Expenses (original and duplicate) direct to the appropriate supervising and examining department of the BSP, Manila, or to the nearest BSP Regional offices personally, by registered mail, or by private courier;

However, the head office of a bank may also comply by submitting the required reports in electronic form on behalf of its branches and other offices to the Supervisory Reports and Studies Office, Bangko Sentral Ng Pilipinas.”

The implementing guidelines on the electronic submission of subject reports shall be contained in a Circular-Letter.

This Circular shall take effect for June 30, 2001 reports.

FOR THE MONETARY BOARD:

RAFAEL B. BUENAVENTURA Governor