Guidelines on the Electronic Submission of Consolidated Foreign Exchange Position Report

MEMORANDUM NO. M-2021-__ 039 OFFICE OF THE DEPUTY GOVERNOR FINANCIAL SUPERVISION SECTOR To : ALL UNIVERSAL BANKS (UBs), COMMERCIAL BANKS (KBs) AND THRIFT BANKS (TBs) Subject : Guidelines on the Electronic Submission of Consolidated Foreign Exchange Position Report Pursuant to BSP Circular No. 1120 dated 07 June 2021 on the Amendments to Regulations on the Open Foreign Exchange Position of Banks, the timelines set below shall be observed: Report Covered Timeline Implementation Submission Banks Type Deadline Consolidated Foreign UBs, KBs 01 to Parallel Run Three (3) Exchange Position 31 July 2021 banking days Report (Net Open FX from reference Position - CFXNOP) date Consolidated Foreign Exchange Position Report (CFXPR) and its Annexes per MAB No. M-2020-089 Consolidated Foreign UBs, KBs 01 August Live Three (3) Exchange Position 2021 Implementation banking days Report (Net Open FX from reference Position - CFXNOP) date TBs 31 August Live Three (3) 2021 Implementation banking days after end of reference month Sworn Certification on UBs, KBs 31 August Live Monthly, within the Accuracy and and TBs 2021 Implementation five (5) banking Completeness of the days after end Consolidated Foreign of reference Exchange (FX) month Position Report

UBs and KBs shall no longer submit the CFXPR prescribed under Memorandum No. 2020-089 dated 11 December 2020 to the BSP- Department of Supervisory Analytics (DSA), starting reference date 01 August 2021. The submission guidelines for the CFXNOP are as follows: 1. The prescribed Excel File of the Data Entry Template (DET) and Sworn Certification can be downloaded from the BSP website at http://www.bsp.gov.ph/SES/reporting_templates or may be requested directly from BSP-Department of Supervisory Analytics through [email protected] using the prescribed subject line, [Request] CFXNOP Template. 2. The prescribed DET and Sworn Certification shall be electronically submitted within the prescribed deadline to the [email protected] using the required format for the subject as illustrated below: To : [email protected] Subject : CFXNOP <Bank Name>, <Reference Period> For example: To : [email protected] Subject : CFXNOP ABC Bank, 1 July 2021 and using the following prescribed file name and file formats: File Valid Filename and Format CFXNOP CFXNOP.xlsm or CFXNOP.xltm Sworn Certification Sworn Certification.pdf 3. Pursuant to BSP Memorandum No. M-2017-028 dated 11 September 2017, UBs/KBs or TBs shall use only e-mail addresses officially registered with the DSA in electronically submitting reports. The same registered e-mail addresses shall be used by the DSA in acknowledging the submitted reports and transmitting the corresponding validation results. 4. BSFIs that are unable to transmit electronically can submit the DET and the Sworn Certification in any portable storage device (e.g., USB flash drive) through messengerial or postal services within the prescribed deadline to:

The Director Department of Supervisory Analytics (DSA) 11th Floor, Multi-Storey Building BSP Complex, A. Mabini Street, Malate 1004 Manila 5. Report submissions that do not conform with the above prescribed procedures shall not be accepted and will be considered non-compliant with the existing reportorial requirements subject to applicable penalties for late and/or erroneous submission of CFXNOP under Section 103 of the Manual of Regulations on Foreign Exchange Transactions. Digitally signed by Chuchi G. Fonacier Date: 2021.07.02 18:17:12 +08'00' CHUCHI G. FONACIER Deputy Governor 02 July 2021