Revisions in Reporting Requirements for Thrift Banks - Effective 1 January 2001
CIRCULAR NO. 270 Series of 2000
TO : ALL THRIFT BANKS
To complete the rationalization and simplification of reports required from thrift banks, the Monetary Board, in its Resolution No. 2029 dated November 17, 2000 approved the following:
1. Effective January 1, 2001, banks shall adopt the updated Manual of Accounts for Thrift Banks (Annex AA).
2. Effective January 1, 2001, banks shall implement the revisions in reporting requirements enumerated in Annex 1.
3. Starting January 1, 2001, all thrift banks shall transmit electronically the reports and schedules presently required to be submitted in diskette form, but incorporating the foregoing report format revisions. At present, these reports include the following:
TB Form 1, Consolidated Daily Report of Condition (CDRC)
TB Form 2, Consolidated Statement of Condition (CSOC)
TB Form 5, Consolidated Statement of Income, Expenses and Surplus (Free)
TB Form 20A, Report on Peso-Denominated Common Trust Funds and Other Similarly Managed Funds, and
TB Form 20B, Report on Trust and Other Fiduciary Accounts – Others.
After January 1, 2001, other required reports shall also be transmitted electronically, within a time frame to be determined by the BSP’s Supervisory Reports and Studies Office.
4. Banks shall adopt the General Ledger-Subsidiary Ledger (GL/SL) format of reporting, as embodied in the following documents:
Manual of Unified Reports (Annex BB)
Manual of Usage and Frequency Matrices (Annex CC), and
Manual of Reference Files (Annex DD)
under the following phases of implementation:
Phase 1. Starting April 1, 2001, thrift banks shall transmit through communication lines the GENERAL LEDGER ACCOUNTS of the Regular/FCDU and Trust Books.
Phase 2. Starting August 1, 2001, thrift banks shall transmit through communication lines the TRANSACTION REPORT FORMS in the required frequency. In addition, they shall also transmit the SUBSIDIARY LEDGERS of the Regular/FCDU and Trust Books in stages to be agreed upon by BSP and the Chamber of Thrift Banks.
Phase 3. Starting November 1, 2001, thrift banks shall transmit through communication lines the SPECIAL FORMS in the required frequency.
FOR THE MONETARY BOARD:
RAFAEL B. BUENAVENTURA Governor
More in BSP Circulars
- Foreign currency denominated credit accommodations of banks' FCDUs/EFCDUs to the BSP(BSP Circular No. 386)
- Amendment of Subsection X268.3 of the Manual of Regulations for Banks (MORB) to include a provision on the grant of temporary rediscounting lines to newly merged or consolidated banks(BSP Circular No. 776)
- Approval of the guidelines governing the emergency loans and advances to banking institutions which shall supersede the existing provisions of Sec. X272 and the corresponding subsections of the MORB(BSP Circular No. 517)
- Amendments to the Guidelines on the Submission of Annual Reports and the Sanctions to be lmposed for Non-Disclosure of Relevant lnformation(BSP Circular No. 956)
- Amendments to the Manual of Regulations for Banks and Manual of Regulations for Non-Bank Financial Institutions(BSP Circular No. 237)
- Revised Manual of Rules and Regulations Governing Non-Trade Foreign Exchange Transactions - Chapters VI - X(BSP Circular No. 1318)
- Rules and regulations amending the Manual of Regulations for Banks to implement Section 20 of the General Banking Law of 2000(BSP Circular No. 357)
- Amendments to the Manual of Regulations for Banks(BSP Circular No. 349)
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