Rationalization of Prudential Reporting Requirements

Bangko Sentral ng Pilipinas

OFFICE OF THE GOVERNOR

CIRCULAR NO. 1110

Series of 2021

Subject: Rationalization of Prudential Reporting Reguirements

The Monetary Board, in its Resolution No. 174 dated 11 February 2021, approved the amendments to selected Appendices (Reports Required from Banks and Reports Required from Quasi Banks) and other relevant Sections of the Manual of Regulations for Banks (MORB) and Manual of Regulations for Non-Bank Financial Institutions (MORNBFI) as part of the report rationalization initiative of the Bangko Sentral.

Section 1. Policy Statement. Recognizing the significant developments in the regulatory and business environment, the Bangko Sentral is continuously reviewing the prudential reports required from Bangko Sentral supervised financial institutions (BSPFIs) to ensure that information being gathered remains relevant to the surveillance and supervisory functions of the Bangko Sentral. The report rationalization initiative also aims to contribute to continuing adherence to internationally recognized standards and practices on data aggregation and governance as well as to promote ease of doing business of BSFIs.

Section 2. Reports Required of Banks and Non-Bank Financial Institutions. Appendix 7 of the MORB and Appendices Q-3, S-2 and N-1 of the MORNBFI are hereby amended by deleting selected reports listed in "Annex A". Appendix 7 of the MORB is also amended by inserting a new certification report, which is codified as Appendix 142 of the MORB, as shown in "Annex B". All references to deleted reports listed in Annex A and embodied in various sections of the MORB and MORNBFI are likewise deleted.

Section 3. Section 346 on of the MORB is hereby amended to read, as follows:

346 PROCEDURAL AND REPORTORIAL REQUIREMENTS

XXX

Reportorial requirements. xxx

Certification on Loans and Other Credit Accommodations Interests/Subsidiaries/Affiliates. to Directors, Officers, Stockholders and Their Related All banks shall

Manual on Loans and Other complied with the provisions of Part Directors, submit a Certification (Appendix l42) that it has fully Officers, Stockholders Credit and Accommodations III.D of this Their Related to

is considered as Category A-3 report Interests/ Subsidiaries/Affiliates. This certification and shall be

the Bangko Sentral fifteen (15) banking days after end of the reference semester. submitted to the appropriate supervising department of

in the Official Gazette or in a newspaper of general circulation. Section 4. This circular shall take effect fifteen (15) days after its publication either

FOR THE MONETARY BOARD:

C BENJAMIN E. DIOKNO

Governor 24_February 2021

A.Mabini St., Malate 1004 Manila, Philippines*(632) 87087701*www.bsp.gov.ph*[email protected]

Annex A

REPORTS FOR DELETION

Append ix Relevant Category Form No. MOR Ref Report Title Frequency

1 Appendix 7 A-3 (BSP-7-16-07-A) DCB I/II Form 5 Sections 345 and 413 (MORB) Directors/Officers/Stockholders (DOSRI), Secured andUnsecured Daily Report on Compliance with Aggregate Ceiling on Direct/Indirect Credit Accommodations to Loans Weekly

3 2 Appendix 7 Appendix 7 A-3 A-3 SES I/VI Form 5A.1 DCB I/II Form 5A (BSP-716-07B.1) {BSP-7-16-07-B) Sections 344 and 413 Sections 344 and 413 (MORB) (MORB) Daily Report on Compliance with Ceiling on Outstanding Unsecured Direct and Indirect Credit Accommodations to Daily Report on Compliance with Individual Ceilings on signatories that no one has exceeded the prescribed individual Directors/Officers/Stockholders (DOSRI) Direct/Indirect Credit Accommodations to DOSRI,secured and unsecured loans together with a certification by authorized eilings Weekly Week ly

4 Appendix 7 A-3 DCB I/I For 5B (BSP-7-16-13) (For U/KBs) Sections 346 and 413 (MORB) Consolidated Report on Compliance With Aggregate Ceiling on Credit Accommodations to DOSR! Semestral

5 Appendix 7 A-3 DCB I/II Form 5B TB Form 8 (For TBs) Sections 346 and 413 (MORB) Consolidated Report on Compliance With Aggregate Ceiling on Direct Credit Accommodations to DOSRI Quarterly

Appendix 7 A-3 DCB I/II Form 5B TB Form 9 (For TBs) Sections 346 and 413 (MORB) Consolidated Report on Compliance With Individual Ceiling on Direct Credit Accommodations to DOSRI Semestral

1 Appendix 7 A-3 DCB I/II Form 5B RB/COB Form 4B (For RBs/CBs) Sections 346 and 413 (MORB) Consolidated Report on Compliance with Individual Ceiling on Direct 1- Compliance with Individua Ceiling on Credit Accommodations to DOI Credit Accommodations to DOSRI Quarterly

Appendix 7 A-3 DCB I/II Form 5B RB/COB Form 4B (For RBs/CBs} Sections 346 and 413 (MORB) Consolidated Report on the Compliance with Aggregate Ciling on Credit Accommodations to DOSRI 1 - Secured and Unsecured DOSRI Loans Schedules: Quarterly

12 10 Appendices Q-3, Appendices Q-3, Appendix 7 Appendix 7 S-2, N-1 S-2, N- A-2 B 0 Unnumbered Unnumbered BS P-7-26-15 (H only) SEC Form dated 11.02.15. Cir. No. 963 dated 04.22.14, Cir No.890 dated 06.27.17 and M-028 As amended by M-020 MAB dated 09.02.05 Section 418 - MORB dated 09.11.17) Section 172-Q Section 4192Q Section 276 (MORNBFI) (MORB) (prohibits banks from employing casual, non-regular personnel) General Information Sheet Similarly Managed Funds (CTF) Certification of Compliance with Section 55.4 of R.A. No.8791 Report on Peso-Denominated Common Trust Fund and Other eport on Underwriting Activities (for U/KBs) Annually upon occurrence of Stockholders' changes occur Meeting or if Semestra Annually Quarterly Weekly

REPORT FOR INCLUSION

Appendix 7 Appendix Relevant Category A-3 Unnumbered Form No. Section 346 MOR Ref Certification on Loans and Other Credit Accommodations to Directors, Officers, Stockholders and their Related Interests/Subsisdiaries/Affiliates Report Title Frequency Semestral

*

Annex B

APPENDIX 142

CERTIFICATION ON LOANS AND OTHER CREDIT ACCOMMODATIONS TO DIRECTORS, OFFICERS) STOCKHOLDERS AND THEIR RELATED INTERESTS/SUBSIDIARJES/AFFILIATES

(Appendix to 346 on Certification on Loans and Other Credit Accommodations to Directors, Officers, Stockholders and Their Related Interests/Subsidiaries/Affiliates)

Name of Bank

CERTIFICATION

Pursuant to the requirements under Part lil. D of the Manual of Regulations for Banks (MORB), I hereby certify

that (bank name) has complied with prudential requirements on granting loans and other accommodations to directors, officers, stockholders and their related interests/subsidiaries/affiliates (DOSRI) on all banking

days of the semester ended (reporting period)

Signature over Printed Name Authorized Officer/ Position of Officer