Guidelines on the Submission of the Updated Report on Non-Deliverable Forward (NDF) Transactions

MEMORANDUM NO. M-2011-028

To:  All Banks and Trust Entities

Subject: Guidelines on the Submission of the Updated Report on Non-Deliverable Forward (NDF) Transactions

Pursuant to  Circular  No. 594  dated 8 January 2008, the following shall be observed  relative  to  the  submission of the updated report on NDF transactions effective 01 June 2011.

1. All banks and trust entities authorized to engage in NDF transactions shall submit on a  daily  basis to the BSP Supervisory Data Center (SDC) the NDF report using the prescribed excel format hereby attached as Annex A .  For guidance in accomplishing the prescribed report format, an illustrative sample is attached as Annex A1.

2. The daily NDF report shall be electronically submitted to the SDC at e-mail   address   [email protected] ,   copy   furnished   to   the   BSP  Treasury Department at e-mail address [email protected] , by the 2nd banking day after the reference date.

3. The scanned copy of the corresponding Control Prooflist ( Annex B ) that refer to the daily results of the subject reference week as duly notarized and signed by the authorized official of the supervised institution shall be e-mailed to [email protected] by the 2nd banking day after end of each reference  week.   Institutions   that  are  unable  to  transmit  the  duly accomplished  Control  Prooflist  electronically  can  submit  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

4. Late  and/or  erroneous  reporting  shall be subject to penalty as provided under Circular No. 594.

This supersedes Memorandum No. M-2008-019 dated 5 May 2008.

For compliance.

NESTOR A. ESPENILLA, JR. Deputy Governor

Att: a/s