Guidelines on the Submission of the Financial Reporting Package for Trust Institutions

MEMORANDUM NO. M-2008-022

To              :  ALL TRUST INSTITUTIONS

Subject  :  Guidelines  on  the  Submission  of  the Financial Reporting Package for Trust Institutions

Pursuant to Circular 609 dated 26 May 2008 on the Financial Reporting Package for Trust Institutions (FRPTI), the following guidelines and procedures shall be observed relative to the submission of the FRPTI: 1. Parallel runs of the FRPTI shall start with the 30 June 2008 quarter-end reports and end with the 30 September 2008 quarter-end reports and shall be submitted within the prescribed submission deadlines below:

Reporting Period

Submission Deadline

30 June 2008

15 September 2008

30 September 2008

15 December 2008

2. Upon live implementation starting with the reporting period ending 31 December 2008, the FRPTI shall be submitted on a quarterly basis within 20 banking days after the end of the reference quarter.

3. Unless advised otherwise, all trust institutions shall continue to submit the existing quarterly Report on Trust and Other Fiduciary Business and Investment Management Activities or the Report on Investment Management Activities, as the case may be, together with their supporting schedules in accordance with the mode and frequency of submission as provided under existing regulations. Late and/or erroneous reporting of the said reports and its schedules shall be subject to penalty even for the duration of the parallel run.

4. The FRPTI reporting templates can be accessed at http://www.bsp.gov.ph/frp/templates .  Once the log-in page appears, the trust institution shall be required to enter its corresponding institution code (IC) in order to gain access and download the corresponding reporting template.  Inquiries related to the IC of a trust institution may be forwarded to:

Ms. Rizalina J. Veron at [email protected] or 524-7011 local 2706; Ms. Emilia C. Matoto at [email protected] or 524-7011 local 2706.

5. The corresponding file structure which shall serve as the trust institutions’ guide in creating their respective data base file in CSV format for the FRPI is detailed in Annex A .

6. The FRPTI shall be submitted electronically to the following e-mail addresses:

E-mail Address

Type of Trust Institution

[email protected]

Universal/Commercial Banks (U/KBs)

[email protected]

Thrift Banks (TBs)

[email protected]

Rural/Cooperative Banks (R/CBs)

[email protected]

Non-Bank Financial Institutions (NBFIs)

using the following format for the subject:

“TRUST<bankname>,<reference period>”, e.g.,:

To         : [email protected] cc         : Subject  : TRUST <bankname>, 30 June 2008

7. The Control Prooflist ( Annex B ), duly notarized and signed by the authorized official of the reporting bank, shall be sent within the prescribed submission deadline to the Director of the BSP Supervisory Data Center (SDC) via facsimile at (632) 523-3461 or 523-0230.

8. Trust institutions that are unable to transmit the FRPTI electronically can submit their FRPTI in CD together with the aforementioned Control Prooflist through messengerial or postal services within the prescribed deadline to:

The Director Supervisory Data Center (SDC) Bangko Sentral ng Pilipinas 16th Floor, Multi-Storey Building BSP Complex, A. Mabini Street Malate, Manila 1004

9. The FRPTI reporting templates and other relevant attachments of this Memorandum are also available upon request at the BSP-SDC through the above-mentioned e-mail addresses and/or postal address.

For compliance.

NESTOR A. ESPENILLA, JR. Deputy Governor