Revised Templates for the Quarterly Report on Exposures to Real Estate Industry

MEMORANDUM Series of 2004

To: All Universal/Commercial and Thrift Banks

SUBJECT: Revised Templates for the Quarterly Report on Exposures to Real Estate Industry

For the information and guidance of all concerned, the templates for the Report on Exposures to Real Estate industry which are quarterly submitted as schedules for the Consolidated Statement of Condition (CSOC) of universal and commercial banks (Schedule 14, 14A and 14S) and thrift banks (Schedule 2M-Bank Proper/Trust, Schedules 1 & 2 of Schedule 2M1-Bank Proper/Trust, and Schedule 3 & 4 of 2M1-Sub-Bank Proper/Trust) have been revised to:

a. include loans granted for the improvements of residential units and the refinancing of housing loans as sub-items for loans granted for the “Acquisition of lndividuai Residential Units", i.e., items A. 1 .b.4 and A.l.b.5, respectively (Page 1 of Schedules 14, 14A, 14S (Schedules 1to 2) Page 2 of Schedule 14S (Schedules 3 & 4) for Commercial Banks, 2M1 (Bank Proper & Trust), 2M1-Bank Proper/Trust (Schedules 1 & 2) and 2M1-Sub-Bank Proper/Trust (Schedules 3 & 4) for Thrift Banks;

b. Include additional disclosure as sub-schedule under page 1, item A. 1 of Schedule 14-Bank Proper for Commercial Banks and Schedule 2M-Bank Proper for Thrift Banks on real estate loans granted to bank officers and employees which are covered by banks’ fringe benefit plan and which plan was approved by the Monetary Board of the Bangko Sentral Ng Pilipinas;

c. Reclassify the regional distribution of ireal estate exposures in accordance with Executive Order No. 103 dated 17 May 1997 which provided for the transfer of the Province of Aurora to Region III (from Region IV, item C.4) and the division of Region IV into Region IV-A (CALABARZON, item C.5) and Region W-B (MIMAROPA, item C.6) and transferred the Province of Aurora to Region III (Page 2 of Schedules 14, 148) for Commercial Banks, 2M (Bank Proper & Trust) for Thrift Banks.

The revised reporting templates (as shown in Annexes 1 to 2.5) shall be effective for the reports as of quarter-ended December 2004.  Also attached for your ready reference is the amended Guideline (Annex 3)  in accomplishing subject report.  Accordingly, Circular Letters dated  5 May 1997 and 19 December  2000 are hereby revoked.

ALBERTO V. REYES Deputy Governor