To adopt the policy of treating offshore banking units (OBUs) in the Phil. as resident entities

CIRCULAR NO. 274 Series of 2001

The Monetary Board, in its Resolution No. 230 dated February 9, 2001, adopted the policy of treating offshore banking units (OBUs) in the Philippines as resident entities for purposes of compilation of financial statistics to align with international standards (in accordance with the IMF Balance of Payments Manual, 5th Edition and the Monetary and Financial Statistics Manual).

To comply with this policy, OBUs are required to submit to the Supervisory Reports and Studies Office, Bangko Sentral ng Pilipinas, through electronic mail ( [email protected] ) the attached revised reporting formats of the Statement of Assets and Liabilities and Schedules within fifteen (15) banking days after end of reference month, as follows:

F R O M T O

Appendix A – Remaining Period to Next Roll-Over or to Original Maturity if not on Roll-Over Basis

Schedule 1 – Maturity Profile of Sources and Uses of Funds

Appendix B – Currency Classification of Funds (In Thousand US Dollar)

Schedule 2 Page 1 – Currency Classification of Funds (In US Dollars)

Appendix B1 – Currency Classification of Funds (In Thousand Respective Currencies Involved)

Schedule 2 Page 2 – Currency Classification of Funds (In Original Currencies)

Appendix C – Country Classification of Interbank Funds

Schedule 3 – Country Classification of Interbank Funds/Non-Bank Funds

Report on Loans Granted to Residents by OBUs (CBP Form No. 6.24.24)

Schedule 4A – Report on Loans Granted by OBUs: Part I – Credit Information (In Original Currencies)

Schedule 4B – Report on Loans Granted by OBUs: Part II – Credit Status

Appendix D – Loans and Discounts to Residents – By Industry

Schedule 4C – Loans and Discounts – Residents: By Borrower/By Economic Activity/By Status

New Report Form

Schedule 5 – Investments in Bonds and Other Debt Instruments (In Original Currencies and US$ Equivalent)

New Report Form

Schedule 5A – Investments in Bonds and Other Debt Instruments Issued by Residents

Appendix E - Indebtedness Among Philippined-Based Participating Banks

Schedule 6 – Indebtedness Among Banks Operating in the Philippines

New Report Form

Schedule 7 – Report on OBU Liabilities to Non-Residents (In Original Currencies and US $ Equivalent)

Report on Spot and Forward Foreign Exchange Transactions of OBUs

Schedule 8 – Report on Spot and Forward Foreign Exchange Transactions of OBUs

Report on Foreign Exchange Cash Receipts and Disbursements

Schedule 9 – Report of Foreign Exchange Flows

Foreign Exchange Actually Sold to Authorized Agent Banks

Schedule 9A – Foreign Exchange Actually Sold to Authorized Agent Banks (AABs)

New Report Form

Schedule 9B – Details of Investment Receipts/Disbursements

The monetary penalties imposed for delayed submission or incomplete/erroneous reporting shall be in the amount of PHP500.00 per banking day of violation.

This Circular shall apply to reports ending January 31, 2001.

FOR THE MONETARY BOARD:

RAFAEL B. BUENAVENTURA Governor

Attachments:

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