Amendments to Circular No. 512 on the Financial Reporting Package

CIRCULAR NO. 568 Series of 2007

Subject : Amendments to Circular No. 512 on the Financial Reporting Package

The Monetary Board in its Resolution No. 442 dated 20 April 2007 approved the amendments to the Financial Reporting Package (FRP) issued under Circular No. 512 dated 3 February 2006, the salient features of which are as follows:

a. Refinements of the definition of accounts and line item instructions; b. Additional supplemental information; and c. Blocking and unblocking of the reporting template

Accordingly, the live implementation of the FRP shall take effect starting with the month-end/quarter-end September 2007 reports. The parallel run, on the other hand, shall be extended up to quarter-end June 2007 reports. Revised timelines on the submission of the FRP during the parallel run period shall be covered by a separate issuance.

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

FOR THE MONETARY BOARD:

NESTOR A. ESPENILLA, JR. Officer-in-Charge