Extended Submission Deadline of Report on Compliance with Mandatory Credit Allocation Required Under R.A. 6977 (As Amended by R.A. 8289 and 9501) (MSME Compliance Report)

Baruoxo SeNrnnL NG Plr-rprNAs OFFICE OF THE DEPUW GOVERNOR FINANCIAL SUPERVISION SECTOR MEMORANDUM NO. M.2018O22 TO At[ BANKS Subject Extended Submission Deadline of Report on Compliance with Mandatory Credit Allocation Required Under R.A. 697l (As Amended by R.A. No. 8289 and 95011 (MSME Compliance Report) The end date of the mandatory credit allocation for MSMEs as set forth in Republic Act (R.A.) No. 5977, as amended by R.A. No. 8289 and R.A. No. 9501, known as the "Magna Carta for Micro, Small and Medium Enterprises" is June 16, 2018. Thus, banks are required to submit the report that applies 16 June 2018 or the last applicable banking day, as its cut-off date for the reference quarter. The prescribed data entry template (DET) for this reporting cut-off can be downloaded from the BSP website, www.bsp.gov.ph/ses/reportins templates or requested from BSP-Supervisory Data Center (SDC). The submission deadline provided for under BSP Circular No. 625 dated 14 October 2008 for the MSME Compliance Report is hereby extended and is now due on or before 31 August 2018. The compliance to the mandatory credit allocation of MSME ended last 16 June 2018. However, the BSP shall continue to monitor the exposures of the banking industry to MSMEs. Thus, banks are enjoined to submit their quarterly exposures to MSMEs following the guidelines on the submission of the MSME Compliance Report under Memorandum No. M-2008-035 dated 19 November 2008, as amended by Memorandum No. M-2017-028 dated 11 September 20L7. For compliance. lL August2OLS A. Mabini St., Malate 1004 Manila, Philippines o Trunkline (6321708-77OL. URL: www.bsp.gov.ph o e-mail: [email protected]