Valuation of Real and Other Properties Acquired (ROPA)
CIRCULAR LETTER NO. CL-2008-015
To : All Universal, Commercial and Thrift Banks
Subject : Valuation of Real and Other Properties Acquired (ROPA)
All universal banks, commercial banks and thrift banksare hereby required to accomplish the attached survey form relative to its level of ROPA holdings as of 31 December 2007.
Data obtained from the survey shall be used in conjunction with an ongoing policy study on the alignment of accounting for ROPA with the provisions of Philippine Financial Reporting Standards/Philippine Accounting Standards.
Submission of the survey form should be made to the Office of Supervisory Policy Development not later than 30April 2008 via e-mail at [email protected] or facsimile at +632 5229759.
For compliance.
NESTOR A. ESPENILLA, JR. Deputy Governor
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