Submission of inventory of NPLs and ROPOAs as of December 31, 2001 and June 30, 2002 for inclusion in the master registry of NPLs and ROPOAs that BSP is preparing

CIRCULAR LETTER Series of 2003

TO:          All Banks and NBQBs

The Bangko Sentral ng Pilipinas (BSP) is preparing for the immediate implementation of the SPV Law. For this purpose, BSP intends to come up with a validated master registry of banks’ NPLs and ROPOAs which shall be eligible for transfer to SPVs. This is to ensure that only eligible accounts will enjoy the fiscal incentives provided in the law.

In connection therewith, kindly submit not later than January 31, 2003 an inventory of your NPLs and ROPOAs as of December 31, 2001 and June 30, 2002 for inclusion in the master registry of NPLs and ROPOAs that BSP is preparing.

The list should be submitted in d-base format (commercial banks, thrift banks and NBQBs) and excel format (rural/cooperative banks) to the Supervisory Reports and Studies Office using the attached prescribed data structure/format for NPLs and ROPOAs at the following addresses:

Type of Bank

Mode of Submission

Address

Commercial Banks cc: mail srso-csockb or cir108

Thrift Banks electronic mail [email protected]

Rural Banks diskette or electronic mail [email protected]

NBQBs

electronic mail

[email protected]

ALBERTO V. REYES Deputy Governor