Submission of Category B Reports on Interest Rates to the Department of Economic Research

CIRCULAR LETTER Series of 2001

To            :  All Expanded Commercial Banks/Regular Commercial Banks

Subject    :  Submission of Category B Reports on Interest Rates to the Department of Economic Research

To facilitate timely monitoring of interest rate movements, several Category B reports on interest rates included in Appendix 6 of the BSP Manual of Regulations for Banks have been simplified/consolidated. Henceforth, these reports shall be submitted to the Department of Economic Research (DER) in their revised frequency, deadlines and formats ( ).

The following guidelines in the submission of said reports shall be observed:

i.    Mode of transmission.  Reports may be transmitted to the DER in two modes: 1) electronically via email at [email protected]     Upon transmission of the report, the bank shall also fax to any of the following numbers: 523-12-52/523-4229/523-5851/524-1115) same report, duly signed by the authorized officer(s) of the bank; or 2) direct submission to the DER at Room 401, Fourth Floor, Five-Storey Building, Bangko Sentral ng Pilipinas Complex, A. Mabini, Manila.

ii.   Non-compliance/late submission.  Non-submission or any willful delay in the submission of reports shall be subject to a penalty of P240 per business day of default until the report is filed with the DER.

For any questions or clarifications, all concerned banks may contact Mrs. Ludivinia Gador or Ms. Purita Cunanan at tel. nos. 523-4229 or 524-7011 locals 2848 or 2342.

For immediate compliance.

FOR THE MONETARY BOARD

AMANDO M. TETANGCO, JR. Deputy Governor