Extension of Transitory Period of the Amended Reporting Templates on Bank Loans and Deposit Interest Rates

EIANG)KO SENTRAL NG PILIPINAS OFFICE OF THE GOVERNOR crRcuLAR NO. 1037 Series of 2019 l Subject: Extension of Transitory Period of the Amended Reporting Templates on Bank Loans and Deposit lnterest Rates The Monetary Board, in its Resolution No. 547 dated 4 April 2Ot9, approved the amendments to Section 173 on Reports of the Manual of Regulations for Banks (MORB), as amended by Circular No. 1029 dated 25 January 20L9. Section 1. ltem "a" under Additionol reports lrom lJBs/KBs of Section 173 of the MORB is hereby amended as follows: "xxx Additional reports from UBs/KBs. a. Volume ond weighted overoge interest rates of deposits and loans. All head offices of UBs/KBs shall report to the Supervisory Data Center of the Bangko Sentral the following: (1) weekly data on volume of transactions and weighted average interest rates on deposits received and loans granted with relevant details as to maturity, size and product category/type, and (2) monthly report on the weighted average interest rate on outstanding loans and deposits by product category/type. This report shall be considered a Cotegory I report and shall be submitted in accordance with Appendix 71. Erroneous/delayed/erroneous and delayed/unsubmitted reports shall be subject to penalties in accordance with the provisions of Section L7I for Cotegory B reports. 1 UBs and KBs shall submit both the existing and amended reports beginning 01 February 2OL9 until 31 December 2019 without penalty. Starting 01 January 2020, UBs and KBs shall be required to submit the amended reports, and erroneous/ delayed/erroneous and delayed/unsubmitted reports shall be subject to penalties in accordance with Section L7L for Category B reports. The timelines are set out in the table below: Timelines Transitory Period 01 February 20L9 to 31 December 2O\9 Actual imolementation 01 Januarv 2020

xxx" Section 2. This Circular shalltake effect 1.5 calendar days following its publication either in the Official Gazette or in a newspaper of general circulation. FOR THE MONETARY BOARD: ll.[ tTd hl ntr*.t.nat^,t MARIA AIfuIASARA CYD N. TUAftO.AMADOR Officer-ln-Charge ll nprilzotg