Guidelines on the Submission of Reports Relative to the Early Adoption of PFRS 9

BANEKO SEUTRAL NE PILIPTNA,S OFFICE OF THE DEPUW GOVERNOR SU PERVISION AN D EXAMINATION SECTOR MEMORAN DUM NO. M-2011-gs To: ALL BANKS AND NON.BANK FINANCIAL INSTITUTIONS THAT ARE EARLY ADOPTERS Of THE PHIUPPINE FINANCTAL REPORTING STANDARDS (PFRS 9) FINANCIAL INSTRUMENTS Subject: Guidelines on the Submission of Reports Relative to the Early Adoption of PFRS 9 pursuant to BSP Circular No. 733 dated 5 August 2011on the adoption of the philippine Financial Reporting Standards 9 (PFRS 9), the following shall be observed in the submission of PFRS 9 related reports: 1. The one-time solo Report on Initial Application of PFRS 9, the supplementary Beport on Early Adoption of PFRS 9 and its corresponding control Prooflist, may be downloaded from the BSP website u nder http:/7www-bsp.gov-ph/frp/templates' 2. All early adopter banks/non-bank financial institutions and each of its subsidiary banks/quasi banla shall submit a one-time solo Report on lnitial Application of PFRS 9 in accordance with the provisions of ltem No. 7 of Section 3 and Section 4 of Circular No.733' 3. ln addition to the above mentioned report, banks shall submit the solo and/or consolidated supplementary Report on Early Adoption of PFRS 9 together with the Financial Reporting Package (FRP) following the submission frequency and deadline of the prescribed FRP' 4. Non-bank financial institutions, other than trust institutions, on the other hand, shall submit the solo supplementary Report on Early Adoption of PFRS 9 together with the consolidated statement of Condition (CSOC) report following the submission frequepcy and deadline of the CSOC. 5. An Fl that has adopted PFRS 9 on financial assets in 2010 may adopt the provisions of PFRS 9 on financiql liabilities before L January 20L3 in accordance with the provisions of ltem No. 5 of Section 4' A. ivtairli ,ct., Majate 1.004 fvlaniia, P:tilirirines " i.63'2)524-7Af, a www rsir'gov pi " bspna:i(Qirsir'gcv pir

their respective until otherwise advised, all Frs shall continue to submit Supp|ementaryReportonEarlyAdoptionofPFRsg,inaccordancewith 733' the mode and frequency prescribed under Circular No' 7. The one-time solo Report on lnitial Application of PFRS 9 and the solo/conso Supplementary Report on Early Adoption of PFRS 9' togetherwlthitsscannedContro|Prooflist,shallbesubmitted electronically to the following e-mail addresses: i E-mailAddress Type of RePorting Bank sdekb-pfrs@bsPgov-Ph sd ct b- pf rs @ bsP. gov. Ph Thrift Banks (TBs) [email protected]. Ph Rural/Cooperative Banks (R/Coop Banks) sdcnbfi -pfrs@ bsP.gov. Ph Non-Bank Financial lnstitutions (NBFls) using the following format for subject: 'PFRS <Fl name>,<reference period>", e'g': To: sdckb-pfrs@ bsP.gov. Ph cc: Subject : PFRS <Fl name>t 31 August 2011 For comPliance. DR. JOH N NY-ilOE E. RAVALO Sector-in-Charge y'August 2011 Page2 oI 2