Amendments to foreign exchange (FX) regulations covering FX derivatives, involving the Philippine Peso, and other transactions under the Manual of Regulations on Foreign Exchange Transactions and the Manual of Regulations for Banks

9 BANGKO SENTRAL NG PILIPINAS OFFICE OF THE GOVERNOR CIRCULAR No. 12/2 Series of 2025 Subject: Amendments to foreign eXchange IFX) regulations covering FX derivatives, involving the Philippine Peso, and other transactions under the Manual of Regulations on Foreign EXchange Transactions and the Manual of Regulations for Banks The Monetary Board. in its Resolution No. 243 dated 06 March 2025. approved the following amendments to rules and regulations governing FX transactions: SECTION I, The following provisions of the Manual of Regulations on Foreign EXchange Transactions (FX Manual. issued under Circular No. 645 dated 13 February 2009, as amended) are further revised as follows: "PART ONE' RULES ON FOREIGN EXCHANGE TRANSACTIONS Chapter I GENERAL PROVISIONS XXx 3. Sale of FX. The following rules shall apply to the sale of FX by AABs/AAB forex corps: XXX c. All sales of FX by AABs/AAB forex corps xxx The duly accomplished Application To Purchase FX (Annex A1. as well as supporting documents for sale of FX by AABs/AAB forex corps, may be submitted in hardcopy or through electronic means in accordance with Item 4. b hereof, xxx d. The total amount of FX to be: (i) sold on spot basis; and/or (ii) hedged by a customer under FX derivatives contracts, by/with single or multiple AABs for specific underlying transaction shall not exceed the amount of such underlying transaction at any given point in time. XXX

\ . * 4, Submission of Documents', The following rules shall apply on the manner of submission of documents' to the BSP and AABs/AAB forex corps: a, Submission to the BSP. The duly accomplished application forms and/or supporting documents for the following shall be submitted to the BSP through electronic means' (unless otherwise indicated under the FX Manual') based on the prescribed guidelines by the BSp6: i. approval/registration of and other requirements' on foreign/foreign currency loans/borrowings; ii. registration of inward investments; and iii. other requests to the BSP not covered by items (i) and (ii).' b. Submission to AABs/AAB forex corps. Documents to support the sale of FX and other related requests covering FX transactions shall be submitted based on the manner prescribed by AABs/AAB forex corps. Electronic submission' of said documents shall be through the official email/electronic/ digital channel/system designated by AABs/AAB forex corps subject to their due diligence, "Know Your Customer", and risk management policies. 4 For BSP-issued documents in electronic form", AABs/AAB forex corps shall verify with the BSP. through the 100, the authenticity of said documents xxx The electronic submission to the BSP and AABs/AAB forex corps of documents on FX transactions shall be subject to the attestation by the submitting party": (i) on the integrity and authenticity of the submitted documents; (ii) that the transmittal of documents was made via official channel; and (iii) on the availability of the original/copy of documents (as applicable) upon request by the BSP for verification. XXX 2 xxx 3 Supporting documents need not be notarized (unless otherwise provided for by 4 applicable law/SI. subject to the required attestation under this Section. The BSP will not be responsible for electronic messages that may be hacked or cracked. intercepted, copied or disclosed Iwithout authorization) outside BSP's information system. S XXX 6 ? Under the applicable Circular Letter to all AABs/AAB forex corps and all concerned Including submission of notice/notification to the BSP a XXX 9 The documents submitted electronically shall be retained for a period of five (5) years from the time of submission thereof. 10 Starting 27 March 2020, xxx. Said documents issued in electronic form te. g. . BSP letter~approval. provisional Bangko Sentral Registration Documents IBSRDs)l shall remain valid even after the period covered by Circular No. 1080 dated 27 March 2020. xxx 11 Including applicant/FX purchaser Page 2 on2

\ * PARTTHREE. FINANCIAL ACCOUNTTRANSACTIONS XXX Chapter 11 INWARD INVESTMENTS XXX Section 36. Registration with the BSP XXX 3. Applications for registration of inward investments under Section 36.1 and other related requests (Form W)shall be filed through the BSP's online system and shall be free of charge, All applications for registration of new/additional" investment/s of nori-resident investors (Form W) shall be filed with the BSP within one a ) year from applicable reckoning date under Appendix 10. A. XXx PART FIVE. FOREIGN EXCHANGE DERIVATIVES AND OPEN FOREIGN EXCHANGE POSITION OF BANKS Chapter I FOREIGN EXCHANGE DERIVATIVES TRANSACTIONS INVOLVING THE PHILIPPINE PESO Section 88. General Policy. It is the policy of the BSP to support the deepening of the Philippine financial markets. I. FX Derivatives Transactions of AABs with Customers a, Customers may hedge their FX exposures through FX derivatives with AABs; Provided that sale of FX through FX derivatives may only be made when the underlying transaction is eligible for servicing using FX resources of AABs/AAB forex corps. Customers may, likewise, cover their funding requirements through FX swa ps. b. AABs may only engage in FX derivatives transactions with customers if the latter is hedging FX exposure or covering funding requirements. The total notional '2 Those arising from purchase of additional shares. stock splits, corporate restructuring and other similar cases

. . * amount of the FX derivatives transaction/s shall not exceed the amount of the underlying FX exposure at any given point in time. 13 c. Customers shall no longer be allowed to purchase FX from AABs/AAB forex corps for FX exposures that are fully covered by deliverable FX derivatives. d. If a customer preterminates" or cancels a non-deliverable FX derivatives contract. the customer may only enter into another nori-deliverable FX derivatives contract for the same underlying transaction if there is a change in the original financial terms of the underlying transaction, e. Hedging of permanently assigned capital of Philippine branches of foreign banks/firms is not allowed. 2, FX Derivatives Transactions of AABs for their Own Account a. FX derivatives transactions of AABs for their own account shall be governed by the rules under the MORB and the FX Manual, as applicable (e. g. , rules on cross-border transfer of local currency). b. AABs authorized by the BSP to transact in nori-deliverable FX derivatives shall ensure that these products are used for legitimate economic purposes. NDFs may be used in engaging in a non-deliverable sell-side" FX derivative with a non-resident counterparty, c. When an AAB is transacting for its own account, the AAB shall ensure that the counterparty is a duly regulated financial institution authorized to deal in FX derivatives. Section 89, Definition of Terms "Customers"' shall refer to the following natural or juridical persons that are hedging their FX exposures and/or covering their funding requirements: (a ) non-bank residents; and (b) nori-residents except duly regulated financial institutions authorized to deal in FX derivatives "Foreign eXchange (FX) derivatives" shall refer to derivatives that involve the buying/selling of foreign currency against Philippine Peso and shall pertain to the following: 13 In case of combination of FX options. the total amount of FX being hedged by or that may be sourced from the option structure shall not exceed the amount of the underlying FX exposure ,4 15 Except for non-deliverable forward contract INDF) Where the AAB sells FX against PHP

L * a. "Forward foreign eXchange (FX) contract" refers to an agreement for delayed delivery of a foreign currency in which the buyer agrees to purchase and the seller agrees to deliver at a specified future date a specified amount at a specified eXchange rate; b. "Non-deliverable forward (NDF)" refers to a forward FX contract where only the net difference between the contracted forward rate and the market rate shall be settled at maturity; c. "Foreign eXchange (FX) swap" refers to an agreement involving an initial eXchange of two (2) currencies, usually at the prevailing spot rate, and a simultaneous commitment to reverse the eXchange of the same two (2) currencies at a date further in the future at a rate (different from the rate applied to the initial eXchange) agreed on deal date; d. "Non-deliverable swap INDS)" refers to a variation of an FX swap agreement wherein there is no eXchange of the two (2) currency cash flows; instead, the net difference between the contracted rate in the swap contract and the spot rate is paid by one party to the other; e. "Cross currency swap (CCS)" refers to an arrangement in which two (2) parties eXchange a series of cash flows in one (1) currency for a series of cash flows in another currency, at specified eXchange and/or interest rates and at agreed intervals over an agreed period; f. "Non-deliverable cross currency swap (NDCCS)" refers to a variation of a cross-currency swap wherein the difference between the contracted interest rates is settled on a cash basis, without necessitating the delivery of either of the two (2) currencies involved in the swap; g. "Foreign eXchange (FX) option" refers to a contract that gives one (1) party the right but not the obligation to buy or sell one a ) currency against another by a certain time for a certain price; and h. Other FX derivatives instruments as allowed under the MORB. "Foreign eXchange (FX) exposure" shall refer to an underlying transaction which is eligible for servicing using FX resources of AABs/AAB forex corps that may be hedged using FX derivatives. Section 90. Documentation. Customers shall comply with the minimum documentary requirements for FX derivatives transactions Page 5 of, 2

L * under Appendix 18. AABs shall make available the original/copy of documents (as applicable) upon request by the BSP for verification. Section 91. Tenor/Maturity and Settlement. a. Sale of FX to customers through FX derivatives (whether deliverable or nori-deliverable) The tenor/maturity of such contracts shall not be longer than the maturity" or approximate due date or settlement of the underlying FX exposure. Only FX swaps shall have no restriction on tenor b. Settlement of nori-deliverable FX derivatives Non-deliverable FX derivatives contracts with residents shall be settled in pesos. c, Remittance of FX proceeds of deliverable FX derivatives contracts FX proceeds of deliver able FX derivatives contracts shall either be: i. delivered by the AAB counterparty directly to the beneficiaries concerned, except for foreign investments where said FX proceeds are reconverted to Philippine Pesos and re-invested in eligible peso instruments such as those listed in Sections 36 and 37 of the FX Manual. For this purpose. beneficiaries shall refer to the FCDU/EFCDU of an AAB, a non-resident entity (e. g. , creditor, supplier, investor), or a resident (for resident to resident FX transactions) to whom the customer is committed to pay/remit FX; or Ii. credited to the FCDU account of the customer (with the same or another AAB) for eventual use" or for remittance by the depository AAB to the intended beneficiary; Provided that if the depository AAB is different from the AAB counterparty: (a)the AAB counterparty shall directly transfer the FX proceeds to the depository AAB of the customer; and (b) the depository AAB shall also be the FX remitting AAB. XXx 16 17 In cases where the FX exposure has a specified due date In case of peso funding requirements covered by FX swaps

. ~ Section 93, Cancellations, Preterminations, " Roll-overs, or Non-delivery of Foreign EXchange Derivatives All cancellations, preterminations, roll-overs, or non-delivery (in the case of deliver able contracts) of all FX derivatives contracts of customers shall be subject to the following tests and corresponding guidelines to determine the validity thereof: a. Eligibility Test - Contracts must be supported by documents required under Appendix18; b. Reasonability and Frequency Test - the reasonableness and frequency of the cancellation, pretermination, roll-over, or non-delivery shall be based on the results of the evaluation of the justification/explanation submitted to AABs by customers as evidenced by appropriate documents; c, Counterparty Test - the cancellation, pretermination, or roll-over of contracts must be duly acknowledged by the counterparty to the contract as shown in the documents or any other evidence submitted to AABs by customers (e. g. , there should be conibmieof counterparty as evidenced by the counterparty signature on pertinent documents I and d. Mark-to-Market Test - xxx. Section 94. Reporting Requirements I. AABs duly authorized to engage in FX derivatives transactions shall continue to be covered by the BSP's existing reporting requirements on financial derivatives. 2. Report on Cancellations, Preterminations. Roll-overs. and Non-delivery of FX Derivative Contracts IAnnex L) shall be submitted in accordance with the Reporting Guidelines under the FX Manual. Transactions that will be reported in Annex L only apply to cancellation, prate rinination, roll-over, or non-delivery of FX derivatives contracts of customers. 3. Peso NDFs transacted by AABs with resident and non-resident counterparties for their own account shall be reported in a separate sheet under Parts 1/1 and IV of the Report on NDF Transactions against Philippine Peso in accordance with the manner and mode of submission under the MORB. A quarterly certification of compliance IAPpendix18. I) shall also be submitted in compliance with the requirement on NDF transactions against the Philippine Peso as stated in the general policy 18 Except NDF contracts Page 7 on2

L * of this chapter and in accordance with the specified manner and mode of submission under the MORB. Section 95. Nori-Bank BSP"Supervised Entities (NBBSEs) NBBSEs that may subsequently be authorized to engage in FX derivatives as dealers shall likewise be covered by the provisions of this Chapter. XXX PART SIX. REPORTING GUIDELINES AND PENALTY PROVISIONS XXX Chapter 1/1 FINAL PROVISIONS XXX Section 107. Repealing Clause, All existing BSP rules and regulations on xxx. FX derivatives involving the Philippine Peso, and open FX position of banks, as well as all other existing BSP rules and regulations or parts thereof which are inconsistent with or contrary to the provisions of this Manual are hereby repealed or modified accordingly: xxx Section 108. Separability Clause. xxx Glossary of Terms FOR PURPOSES OF THIS MANUAL, the following definitions are adopted: XXX Copyxxx Debtsec, ,fitiesref^rredtoin Section 333b of theFXMan, ,a/xxx XXx Letter of Credit xxx Medium- andLong-Term Loansxxx Page 8 of, 2

. * XXX Short-termloansxxx Sina"-scale mining xxx XXX' SECTION 2. The following Appendices/Annexes to the FX Manual have been revised/deleted: R^x^ I. Appendix 10. A: Guidelines Covering Inward Investments under Section 36 of the FX Manual 2. Appendix 18: Guidelines and Minimum Documentary Requirements for Foreign EXchange (FX) Derivatives Transactions 3, Appendix 18.1: Certification of Compliance with the Requirement on Non-Deliverable Forward Transactions Against the Philippine Peso 4. Appendix 22: Reportorial Requirements 5. Annex A Application To Purchase Foreign EXchange (FX) 6, Annex L Report on Cancellations, Preterminations, Roll-overs. and Non-delivery of Foreign EXchange Derivative Contracts De. ^ I. Annex M: Report on Foreign EXchange Swaps With Customers Where the First Leg is a Purchase of Foreign EXchange Against Pesos 2. Annex W: Application for Registration of Foreign Investments" 19 Similar application form (Form W) shall be electronically accomplished and submitted through the BSP - International Operations Department's (100) online system upon implementation as provided under Section 4ITransitory Provision) hereof. Page 9 on2

. SEC770N3 Appendix 7 of the Manual of Regulations for Banks (MORB) is hereby amended to incorporate the following changes: I, Deletion of the following reports for Universal Banks/Commercial Banks and Thrift Banks (UBs/KBs and TBs) shown under the 'DES, ,?OD reports"category: a. Report on Purchase of Foreign Currency (FC) from Refund of Advance Payment of Importations up to $100,000.00 b. Consolidated Report on Loans Granted by FCDUs/EFCDUs c. Report of FX Swaps with Customers where 1st Leg is a Purchase of FX Against Pesos (For banks with derivatives license) 2. Revision and transfer of the "Report on Non-Del^^erab/e Forward Transactions 8981hst Ph/740pirie Peso IC'ontro/ Prooff/:;t/' listed under "DES/100 reports" category to the "Secondary Reports' category for UBs/KBsh'BS 3. Inclusion of a new report related to NDF transactions under the 'Secondary Reports"category for UBs/KBs. TBs and Rural Banks and Cooperative Banks (RBs and Coop Banks), with details as follows: gate^I^! EQn^ 14^ Re^ E^y ^b^ SL^ ^line E^"^ e=mail A^Ir^ Appendix Sect!on Certification Quarterly Within15 Department 18.1 of the FX 94.3 of of banking of Manual the FX Compliance days from Supervisory Manual with the end of Analytics Requirement reference on Non- quarter Deliverable Forward Transactions Against the philippine Peso PagelO of 12

4. Amendment on the submission details of the following RBs/Coop Banks reports. as follows: Caregnr, , Form No. Mop Ref. Re^ ^y Submission Su^^n ^line pro^^ e-mail Ark^ Unnumbered (Cir. No. Report on Daily 2 banking sdc- 963 Non- days after ridl@bsp. go dated Deliverable end of v. ph 06.27,17 Fomyard reference and Transactions date M-028 against dated Philippine 0911/7) Peso Control Prooflist Unnumbered (Cir. No. Registration Daily Z banking sd c rb. 963 Form days after rf@bsp. gov dated (E- end of ph 0627/7 corresponde reference and rices) date M-2017- 026 dated 09,117) SECTION 4, Transitory Pro visibn, a. The manner of the electronic submission of applications/requests to the BSP-100 as provided under item 4. a. Part One, Chapter I of the FX Manual shall be covered by a separate issuance. b. On transactions relating to Section 36.1, Upon effect'vity of this Circular until prior to implementation of BSP 100's online system, clients shall continue to file applications (Form W) with BSP-100 relating to Section 36.1 through electronic means to iod_investments@bsp, gov. ph. The operational guidelines on the use and date of implementation of the said system for the submission of applications for inward investments under Section 36.1 and other related requests (Form W) shall be covered by separate issuance/s. c, On submtssion of Annex L, Appendix 18.7 and Report on Non-Del^^erab/e Forward Transactibns agarhst Ph/740pine Peso. Upon the effectivity of this Circular, reporting AABs shall: Ii) continue to report the transactions under Annex L of the FX Manual and the report on Non-Deliverable Forward Transactions against Philippine Peso using the old report forms Page " of, 2

and existing manner of submission; and (ii) make the necessary preparations and adjustments to their systems and processes to ensure compliance with the aforesaid revisions in the reports and new reporting guidelines. The submission of the revised Annex L and Report on Nori-Deliver able Forward Transactions against Philippine Peso. and the new certification under Appendix 18.1 shall commence six (6) months after the effectivity of this Circular. The manner of the electronic submission of: (I ) Appendix 18.1; and (2) Report on Nori-Deliverable Forward Transactions against Philippine Peso, as revised. shall be covered by a separate issuance. SECTION 5 Repeal/hg Clause. This Circular supersedes/ amends/modifies the provisions of existing regulations that are inconsistent herewith. SECTION a Effect/'vity: This Circular shall take effect 15 banking days after its publication either in the Official Gazette or in a newspaper of general circulation in the Philippines. FOR THE MONETARY BOARD: I. , ELI M. REMOLONA. JR. Governor APR I I 2025 Page, 2 of, 2

* . Page xxx of xxx Guidelines Covering Inward Investments under Section 36 of the FX Manual The following guidelines shall apply to registration, repatriation/ remittance, and reporting of inward investments under Section 36 of the FX Manual: I. Registration of investments with BSP' A. Application for registration I, For new/additional' investment/s of a non-resident investor, applications for registration of investments (Form W) under Section 36.1 shall be filed through the BSP"100's online system, with the supporting documents (i. e. , proof of funding and investment made) listed under AppendixlO. C of the FX Manual. XXX B. Changes in BSP-registered investments I. The BSP-100 shall be notified of any change' in BSP-registered investments. All applications for replacement of BSRDs due to changes in BSP-registered investments (Form W) shall be filed through the BSP-100's online system. 2. For partial sale/transfer afireduction in BSP-registered investments (excluding capital repatriations), xxx. 3. For full transfer of BSP~registered investments to a new nori~resident investor. the inward investments under the name of the new non-resident investor shall be registered with the BSP-100 pursuant to the guidelines under item I. A hereof if repatriation of capital and/or the remittance of related earnings in pesos thereon will be funded with FX resources of AABs/AAB forex corps. 4. For changes in the name of investor/investee not involving corporate restructuring and transfer of ownership. xxx. 5. A new BSRD shall be issued for requests to consolidate or replace old BSRDs of the nori-resident investor. xxx I XXX 2 xxx 3 XXX

. ~ Page xxx of xxx C. Replacement/Reissuance of Lost BSRDs I. Replacement of lost: in original hardcopy BSRDs' issued before 27 March 2020; and (ii) BSRDs issued in electronic form' starting 27 March 2020 Applications (Form W) for replacement of lost BSRDs' shall be filed by the non-resident investor (or his duly authorized representative) through the BSP-100's online system, with the following: a, xxx b, xxx XXX 4 XXX S xxx 6 xxx

\ \ AR^ Page I of 2 Guidelines and Minimum Documentary Requirements for Foreign EXchange (FX) Derivatives Transactions The following are the guidelines and minimum documentary requirements for FX derivatives (deliverable and non-deliverable) transactions: I, General Guidelines A. Sale/Delivery of FX by AABS Through FX Derivatives I. Unless otherwise indicated, the documentary requirements in Part 11 hereof shall be presented/submitted on or before settlement date to AABs, regardless of amount involved. ' xxx 2. For FX swaps and cross-currency swaps, the leg involving the sale of FX shall be subject to documentary requirements in Part 11 hereof. However, for FX swaps used to cover funding requirements, the second leg of the swap involving the sale of FX shall be subject only to the swap contract between the counterparties. 3. All sales of FX by AABs through FX derivatives are subject to the submission by the FX purchaser of a duly accomplished Application To Purchase FX (Annex A), except for the following: (a) second leg of FX swaps and cross-currency swaps involving the sale of FX; and (b) non-deliverable FX derivatives settled in peso. 4. The total amount of the FX derivatives contract/s and spot purchase/s (if applicable) with single or multiple AABs for a specific underlying transaction shall not exceed the amount of such underlying transaction during the term of the contract/s. 5. For trade and non-trade current account transactions, the documentation shall apply only to FX transactions with amounts (per underlying transaction) exceeding Us0500,000 (for individuals) and Us01,000,000 (for corporateslother entities), However, for transactions involving netting arrangements, e-commerce market participants. resident to resident FX transactions, loans/borrowings, guarantees and other similar arrangements, other financing schemes and arrangements, and investments, the minimum documentary requirements in Part 11 hereof shall be presented/submitted regardless of amounts involved. In cases where the FX derivative involves delivery of FX in multiple dates for the duration of the contract. the documentary requirements shall be presented/submitted on or before every delivery date of FX.

L * B* Purchase of FX by AABS Through FX Derivatives . FX derivatives contracts, including the leg involving the purchase of FX in FX swaps and cross-currency swaps, shall be subject to the AABs' "Know Your Customer" policy, rules under the MORB, as applicable. and existing regulations on anti~money laundering. 11. Documentary Requirements for the Sale/Delivery of FX through FX Derivatives The following transactions shall be eligible as underlying for FX derivatives contracts. subject to the submission of the applicable documentary requirements: Transaction Type Documentary Re uirements I. Trade transactions A endix 1.5 2. Non-trade current account Appendix I transactions and resident to resident FX transactions 3. Foreign/foreign currency Appendices I and 1.3 loans/borrowin s 4. Inward investments2 A endix 1.4 5. Outward investments A endix 1.4 6, Guarantees' and other similar Appendix1.3 arran ements 7. Other Financing Appendix1.3 Schemes/Arran ements 2 These pertain to BSP-registered investments in instruments under Sections 36 and 37. " FX exposure arising from a call on a guarantee may be covered by FX derivatives contract up to the amount guaranteed by the guarantor.

\ A^,. CERTIFICATION OF COMPLIANCE WITH THE REQUIREMENT ON NON-DELIVERABLE FORWARD TRANSACTIONS AGAINSTTHE PHILIPPINE PESO (Name of Bank) CERTIFICATION Pursuant to the General Policy of Part Five, Chapter I of the Manual of Regulations on Foreign EXchange Transactions, the undersigned duly certify that: . All Peso nori-deliverable forward transactions that the bank engaged in for its own account were used for legitimate economic purposes . No transactions were made for the quarter of 20 President or Compliance Officer Head of Treasury Unit Country Head (for Foreign Banks)

\ ~ Page xxx of xxx Reportorial Requirements' Submission Category21 Classification Title of Report Frequency/ Submission Procedure Deadline A. Consolidated Report on Foreign EXchange Assets and Liabilities xxx C. Foreign/I=oreign Currency Loans and Related Transactions xxx xxx xxx xxx B Report on Guarantees xxx xXx Seconda IAnnex CF D. FCDUs/EFCDUs xxx I. Foreign EXchange Derivatives Report on Cancellations. Monthly. within Email to 100 at B Preterminations. five (5) banking iod_swap@bsp. gov. ph Secondary Roll-overs, and days from end of in .pdf and .XIs/. XIsx format Non-delivery of Foreign reference month EXchange Derivative Contracts (Annex L)4 XXX 2 XXX 3 XXX 4 For AABs with transactions involving Cancellations. Preterminations. Roll-overs. and Non. delivery of Foreign EXchange Derivative Contracts

* . AN^ APPLICATION To PURCHASE FOREIGN EXCHANGE (FX)' XXx I hereby certify that: a. The total amount of: i) FX purchased on a spot basis and/or via FX derivatives contract: and/or ii) FX exposure hedged via FX derivatives with single or multiple AABs, do not exceed the amount of the underlying transaction at any given point in time; XXx XXX Page xxx of xxx

ANNEXL Calcgo, yrela". kanon BIS"bridaly handli"" ManiNy. within fibj51 hanhing drip ham e"d dripl, r, re, in, nth SubmiL, IC, L Email Reln*., rin, :eral GP, ,. lion, tone*in"n* a, lad_swap3b, n gnu. ph In pdl"rid JISJ. *I, * fop, hat BANGKO SEWRAL NG PILi"NAS INTERNATIONALOPERATloNS DEPARTMENT Report on Cancellations. Pre. e, mination, . ' Pan-@He's. and Nori-delivery or Foreign EXchange Derivativ. contracts Forthe Month of <HMM. loryY> R@port, rig Bank Transa=. .@n Coun ter aru U d. rl in Tran action a Pure 3.3 sal 5 Roll-over/ Valu. Pat, Prete, ,rim"lion/c. ricell"LION Type or FX Deal Noh-dellv, Derivatives Restd"ncy Counterparty R'sidc"cy Trans BSP Forward FX Transaction Dnal Data SII No. T Cc Amount Justification on innl N. w Nam" Indicator Nam, v Indica. er Code A roval FX Ra, . CG Amount Rate CG Amount ddmmm AAA 999.9g9.999.99 d, minm ddmm"I I - resident I . resident 99,99999 AAA 999.999.999.99 99,99999 999.999.999.99 2 - noh-resident 2 . nori. rugid. FC . Ful I Can ejlation FP . Full Roll. over renewal I - FCDU Inari FW - deliv"rubl e FX forwards FP - Full Prete, mina, ion 2 - 08U loan SW. drillverable FX swa s PC . Partial CanCPIlation 3. Origho, eloan N DF. nori. deliver rib IP Fx 10 ards PR - Partial pan- ue, renewal 4 ,Intercom an adv a ces NDS. ribn. deliverab ID FX sw 5 PP. PartlalPret@ rininat:on S - For ei nin P= me CCS . cross. currenc swa s ND. N n. del ve 6. Ex itr ce = NDC - nori-deliver"b to cross- Mr. enc S v, a s 7-1m Dr. ations exc t UsD Tru st Rpc i Is GP . FX O Mons 8 - us D Trust Re Ut S for NDFs onI CTH . Other au thorized FX d IiVBtiVQS 9 . Other S I. with gsp a roval Z - Without SP a roval Prepared by Certified True and Correct Signal urn over Printed Nam" Signature over Printed Name of Au, horized Oncer Position Department position Department CompanyTel. No Company Fax No CompanyTel. No Company Fax No Company Email Address Company Email Address CompanyAdd, egg Company Address "- U" c"PI, .I 1.1*", L Ind, =.,. Lumpl. .. by, ;n". nam, Fari"dindu"Is u, " Rin format 'SURNAME. FIRST NA, IE. ,, 100LE NAME ". Fur FX swaps cult, ing fur"Ing Ingui. "monu. Indic. I" 'ticr applicable' for undnil, ing .,, hat' I. n ". For for, 19n roarLirdlca!* name, , creditor. For ID, ,:gn In"e, ,menL Indicale name din, ,3RD" Fo, e, ", t proc, ,d, . Indicate foreign buy, r. ,. c. - ER="p, NDF cent, .co

, ANNEX M R. "". a

* ~ ANNEXW Reserved

, , NAME OF BANK DAILY REPORT ON NON-DEUVERABLE FORWARD TRANSACnONS PARTi. TRANSACTIONS 11NVOLViNC PHILIPPINE PESOjWiTH RESIDENT CUSTOMERS As of Idd. Minm. wi IfORWARDEURCf*4SES A. BALANCES As OF END OF DAY" Date Counter a Currenc Contracted pot Forward Tenor Notional Amount EXchange Exposure EXchange Rate vs. Positive Fair Negative Fair INo. of jin Original UsD Equivalent' Rate Being I Contract FIX Settlement Type Name Base Settlement PhP' ValuejPhpyS ValuejPhpyS Daysj Currency) vs. Php!s Hedged {XXXXXj TOTAL AMOUNT OUTSTANDING 0,000 0,000 0000 TOTAL EXCLUDING AMOUNT FIXED 0,000 B. TRANSACTIONS DURING THE DAY New Availmen. Ma, un Curren Contracted Curren Contracted Amount Beginning Balance Contracted Ending In Amount contract Amountin In us of Base Settlement In UsD Date Settlement Amount in UsD EXchange Balance In UsD Original Base origlnalccy . Rate Ccy TOTAL 0,000 TOTAL 0000 IJFORWARQSALES A. BALANCES As OF END OF DAY" Date Counter a Curren Contracted Spot Fo, ward Tenor Notional Amorint EXchange Exposure EXchange Ratevs POSitlve Fair Negative Fair Contract Fix Settlement INo. of Type Name Base Settlement 11n Original usD Equivalent2 Pate PhP" ValuejPhpys ValuejPhpjs Being Daysj currency I vs. PhP' Hedged IXX. XXXi Ixxxxxi TOTAL AMOUNT OUTSTANDING 0000 0,000 0,000 T TAL EXCLUDING AMOUNT FIXED 0000

, , NAME OF BANK DAILY REPORT ON NON-DELIVERABLE FORWARD TRANSACTIONS PARTl. TRANSACTIONS 11NVOLVINO PHILIPPINE PESO)WITH RESIDENTCUSTOMERs As or kid-Minm-yy) B. TRANSAalONS DURING THE DAY New Availment Matuh Currenc Contracted Amount Currenc Contracted Beginning Balance Contracted Ending In Amount Contract Amountln in UsD" Settlement in UsD settlement Amount In Usp EXchange Balancein UsD Base original Date Base Original Ccy Rate Ccy TOTAL 0,000 TOTAL 0,000 Prepared By Contact No. : Date Prepared ' Refers to all deals that a re cutsEanding, Inclusive of those that have been fixed. ''This column shall reflectjijthe UsD amount stated in the conurect if the contract involves the UsD. orlii) the amount converted to UsD using the rate in the BSP Reference EXchange Rate Bulletin as of contract date in case of third currency " Use the spot eXchange rate that became the basis for the forward rate that was agreed upon ' Use the 10rward eXchange rate indicated in the contract/the contracted rate. ' Report the cumulative mark-to-market gains/nossesj under positive/Incgativei ,air value column. respectively. Total Binounr shall reconcile with the reported amount in the Financial Reporting Package. fo Indicate nature of transaction and corresponding document. as applicable ' Amount should be equal to the ending balanceln the previous day's report re Amount should be equal to the Torel Amount Outstanding in Section A

, , NAME OF BANK DAILY REPORTON NON. DEUVERABLE FORWARDTRANSACTIONS PART 11. TRANSACTIONS 11NVOLViNC PHIUPPiNE PESO) WITH NON-RESIDENT CUSTOMERS As of Idd-Minm. w} LFORl, !C4RD. FURC"45ES A. BALANCES As OF END OF DAYn Date Counter ar Curren Contracted po Forward Notional Tenor EXchange Exposure Amount EXchange Rate vs Positive Fair Negative Fair INo. of UsD Equivalent!z Rate Being Contract Fix Settlement Type Name Base Settlement tin Original PhP' Value IPhpjs Value IPhpjs Daysi vs. Phpis Hedged" Currency) 0<XXXXi TOTAL AMOUNT OUTSTANDING 0000 0000 0000 TOTAL EXCLUDING AMOUNT FIXED 0000 B. TRANSACTIONS DURING THE DAY New Availment Maturi Curren Contracted Amount Curren Contracted Beginning Balance In Amount Contract Amountin Contracted ' Ending in uso Amountin UsD EXchange Balancein UsD Base Settlement Original in UsD Date Base Settlement Original Ccy Rate Cq, TOTAL 0000 TOTAL 0000 ILEOR, 154,054LES A. BALANCES As OF END OF DAY" Date Counter a Curren Contracted po Notional Forward Tenor EXchange Positive Fair Exposure Amount EXchange Pate vs. Negative Fair Contract Fix Settlement INC. of Type Name Base Settlement jin Original UsD Equivalent2 Pate PhP" valuejPhpjs ValuejPhpjs Being Days) vs Php;, Hedged Currency I Ixx. xxx) TOTAL AMOUNT OUTSTANDING 0000 0000 0,000 TOTAL EXCLUDING AMOUNT FIXED 0000

, , NAMEOFBANK DAILY REPORT ON NON-DELIVERABLE FORWARD TRANSAcrioNs PARTii. TRANSACTIONSjiNVOLViNC PHIUPPiNE PESOjWiTH NON-RESIDENTcusTOMEPs As of (dd-Minm. wi B. TRANSACTIONS DURING THE DAY New Availment Maruri Curren Contracted Amount Curren Contracted Beginning Balance Contracted Ending In Amount Contract Amountin in UsD Base Settlement in UsD Settlement Amountin UsD EXchange Balance in UsD" Original Date Base Original Ccy Rate C TOTAL 0000 TOTAL 0000 prepared By: Contact No. ! Date Prepared '' Refers to alldeals that are outstanding. inclusive of those that have been fixed 'This column shall tenect 1/1 the UsD amount stated in the contract if the contract involves the UsD. or (jilthe amount converted to UsD using the rate in the BSP Reference EXchange Rate Bulletin as of contract date in case of third currency. ' Use the spot eXchange rate that became the basis for the forward rate that was agreed upon. ' Use the forward eXchange rate indicated in the contract/the contracted rate. '' Report the cumulative mark-to-market gainstllossesj under positive/Inegative) fair value column, respectively. Total amount shall reconcile with the reported amount in the Financial Reporting Package '' Indicate nature of transaction and corresponding document. as applicable ' Amount should be equal to the ending balance in the previous day's report fo Amount should be equal to the Total Amount Outstanding in Section A.

, , NAME OF BANK DAILY REPORTON NON-be UVERABLE FORWARDTRANSACTioNs PARTlll. TRANSACTIONS 11NVOLVING PHIUPPINE PESO}WITH RESIDENTS FOR BANK'S OWN ACCOUNT As of Idd-Minm. w} LEOR, ,64nD. PURCHASES A. BAIANCES As OF END OF DAYn Date Counter a Currenc Contracted PC Notional Forward Tenor EXchange . Positive Fair Exposure Amount EXchange Rate vs. Negative Fair Contract Fix Settlement (No. of Type Name Base Settlement tin Original usD Equivalenti2 Pate PhP* ValuejPhp/s Value IPhpjs Being Days) us. PhP" Hedged Currency) Dor. XXXi TOTAL AMOUNT OUTSTANDING 0,000 0,000 0,000 TOTAL EXCLUDING AMOUNT FIXED 0000 B. TRANSACTIONS DURING THE DAY New Avai merit Matu, I Curren Contracted Amount Curienc Contracted Beginning Balance Contracted Ending In Amount Contract Amountin in us of Settlement in UsD Settlement Amountin UsD EXchange Balance in Us DC Base Original Date Base Original Ccy Ra. e C^, TOTAL 0000 TOTAL 0,000

, , NAME OF BANK DAILY REPORT ON NON. DEUVERABLE FORWARD TRANSACTIONS PARTlll. TRANSACTIONS INVOLVING PHILIPPINE PESOjWITH RESIDENTS FOR BANK'S OWN ACCOUNT As of Idd-Minm. wl MEQRWARD, ALES A. BALANCESAS OF END OF DAYR Date Coun er a Currenc Contracted spot Notional Forward Tenor EXchange Exposure Amount EXchange Rate vs. Positive Fair Negative Fair Contract Fix Settlement INo. of Type Name Base Settlement tin Original UsD Equivalent2 Rate PhP'* value IPhpjs Value IPhpjs Being Daysi vs. Phpts Hedged" Currency) OCXXXX) Ixxxxx) T TAL AMOUNT OUTSTANDING 0000 0000 0000 TOTAL EXCLUDING AMOUNT FIXED 0000 B. TRANSACTIONS DUPING THE DAY New Availment Maturi Curren Contracted Amount Curren Contracted Beginning Balance Contracted Ending In Amount Contract Amountin in us of Base Settlement in UsD Date Settlement Amountin UsD EXchange Balancein UsD * Original Base Original Ccy ' Rate Ccy TOTAL 0,000 TOTAL 0,000 Prepared By Contact No. : Date Prepared: ' Refers to all deals that are outstanding. inclusive of those that have been fixed. 'This column shall reflect in the UsD amount stated in the contract if the contractinvolves the UsD. or nilthe amount converted to UsD using the rate in the BSP Reference EXchange Rate Bulletin as of contract date in case of third currency. " Use the spot eXchange rate that became the basis for the forward rate tha, was agreed upon ' Use the forward eXchange rateindicatedin the contract/the contracted rate. '' Report the cumulative mark-to-market gains/(losses) under positive/Inegativelfair value column. respectively. Total amount shall reconcile with the reported amount in the Financial Reporting Package '' Indicate naru re of transaction and corresponding document. as applica ble " Amount should be equal to the ending balance in the previous day's report re Amount should be equal to the Total Amount Outstanding in Section A.

, , NAME OF BANK DAILY REPORT ON NON-DELIVERABLE FORWARD TRANSACTIONS PARTIV. TRANSACTIONS 11NVOLVINC PHIUPPINE PESO)WITH NON-RESIDENTS FOR BANK'S OWN ACCOUNT As of (dd. Minm. Wl LEORWAROE, ^CHI4SES A. BALANCES As OF END OF DAYn Date Counter a Currenc Contracted po Notional Forward Tenor EXchange Exposure Amount EXchange Rate vs Positive Fair Negative Fair I Contract Fix Settlement INo. of Type Name Base Settlement jin Original usD Equivalent!z Rare ' PhP" ValuejPhpys value IPhpys Being Daysj Currency} vs, PhPrs OCX. XXX} Hedged re TOTAL AMOUNT OUTSTANDING 0000 0,000 0,000 TOTAL EXCLUDING AMOUNT FIXED 0000 B. TRANSACTIONS DURING THE DAY New Availment Maturi Curren Contracted Am aunt Currenc Contracted Beginning Balance Contracted Ending In Amount Contract . Amountin in us of Base Settlement in UsD Settlement Amountin UsD EXchange Balance in UsD Original Date Base Original Ccy Pate C , TOTAL 0000 TOTAL 0000

. . NAME OF BANK DAILY REPORT ON NON. DELIVERABLE FORWARD TRANSACTIONS PARTlv. TRANSAcrloNsjlNvoLvlNC PHILIPPINE PESO) WITH NON-RESIDENTS FOR BANK's OWN ACCOUNT As of kid-Minm-Wi ", FORWARDSaLES A. BALANCES As OF END OF DAYn Date Counter a Currenc Contracted pot Notional Forward Tenor EXchange Exposure . Amount EXchange Rate vs. . Positive Fair Negative Fair Contract Fix Settlement INo. of Type Name Base Settlement tin Original UsD Equivalent!z Rate, PhP' Value IPhpys ValuejPhpyS Being Days) vs. PhP' Hedged Currency} Ixxxxx) TOTAL AMOUNTOUTSTANDING 0000 0.000 0,000 TOTAL EXCLUDING AMOUNT FIXED 0000 B. TRANSACTIONS DURING THE DAY New Availment Maturi Currenc Contracted Curren Contracted Amount Beginning Balance Contracted Ending In Amount Contract Amount in in us of Settlement in UsD Base Settlement Amount in UsD EXchange Balance in UsD Base Original Date Original Ccy 'Rate Ccy , * TOTAL 0.00 O TOTAL 0,000 Prepared By: Contact No. : Date Prepared ' Refers to all deals that are outstanding. inclusive of those that have been fixed 'This column shall reflect in the UsD amount stated in the contract if the contract involves the UsD. or 11il the amount converted to UsD using the rate in the BSP Reference EXchange Rate Bulletin as of contract date in case of third currency. ' Use the spot eXchange rate that became the basis for the forward rate that was agreed upon. ' Use the forward eXchange rateindicated in the contract/the contracted rate. rs Report the cumulative mark-to-market gains/1105sesj under positive Anegativei fair value column. respectively. Total amount shall reconcile with the reported amountin the Financial Reporting Package. '' Indicate nature of transaction and corresponding document. as applicable " Amount should be equal to the ending balance in the previous day's report. '' Amount should be equal to the Total Amount Outstanding in Section A

, , NAME OF BANK DAILY REPORT ON NON-DELIVERABLE FORWARDTRANSACnONS PARTV. TRANSAcrloNSINOTINvoLvlNC PHIUPPiNE PESO) WITH RESIDENTSjFOR CUSTOMERS OR BANK's OWN ACCOUNTj As of Idd-Minim. Wi f_FORWARDFURCHASES A. BALANCES As OF END OF DAY' Date Counter a Curren Contracted Notional Spot Tenor Forward Exposure Amount EXchange Positive Fair Negative Fair Contract Fix Settlement INo. or Type Name Base Settlement tin Original UsD Equivalent" "tel' EXchange Rate" Value IPhPj' Value IPhPF Being Daysi Currency} ' IXx. xxXi 0< XXXXi Hedgedts TOTAL AMOUNT OUTSTANDING 0000 0000 0,000 TOTAL EXCLUDING AMOUNT FIXED 0000 B. TRANSACTIONS DURING THE DAY New Availmen. Maturl Curren Contracted Amount Curren Contracted Beginning Balance Contracted Ending In Amount Contract Amount in in Us DIP Base Settlement Settlement Amount in UsD EXchange Balance in Us of Original in UsD Date Base Original Ccy Rate Ccy . TOTAL 0000 TOTAL 0000

. , NAME OF BANK DAILY REPORT ON NON-DELIVERABLE FORWARD TRANSACTIONS PARTv. TRANSAcrloNslNOTINvoLvlNC PHIUPPINE PESO)WITH RESIDENTSjFon CUSTOMERS OR BANKS OWN ACCOUNTj As of Idd-Minm-wl ILEOR, *, 4,054LES A. BALANCES As OF END OF DAY' Date Counter a curren Contracted Notional Spot Tenor Forward Exposure Amount ' EXchange Positive Fair Negative Fair I Contract Fix Settlement INo. of Type Name Base Settlement jin Original UsD Equivalent'? Rat'' ' EXchange Rate Value IPhpys Value IPhpyS Being Days} Currency I Ixxxxx) Ixx. xxx) Hedgedre T TALAMOUNT OUTSTANDING 0000 0,000 0,000 TOTAL EXCLUDING AMOUNT FIXED 0000 B. TRANSACTIONS DURING THE DAY New Availment Maruri Currenc Contracted Currenc Contracted Amount Beginning Balance Contracted Ending In Amount Contract Amountin in UsD Amount in UsD EXchange Balance in Us DB Base settlement Original in UsD Date Base Settlement Original ccy Rate Ccy TOTAL 0,000 TOTAL 0,000 Prepared By Contact No. : Date Prepared: ' Refers to all deals that are outstanding. inclusive of those that have been fixed. 'This column shall reflect 01 the UsD amount stated in the contract if the contract involves the UsD. or nil the amount converted to UsD using the rate in the BSP Reference EXchange Rate Bulletin as of contract date in case of third currency ' Use the spot eXchange rate that became the basis for the forward rate that was agreed upon. ' Use the forward eXchange rate indicated in the continenthe contracted rate. rs Report the cumulative mark. to. market gains/!losses lurider positive/Inegativelfair value column. respectively. Total amount shall reconcile with the reported amount in the Financial Reporting Package. relndicate nature of transaction and corresponding document. as applicable " Amount should be equal to the ending balance in the previous day's report re Amount should be equal to the Total Amount Outstanding in Section A.

, , NAME OF BANK DAILY REPORT ON NON. DELIVERABLE FORWARD TRANSACTIONS PARTVl. TRANSACTIONS NOTINVOLVINC PHILIPPINE PESOjWITH NON-RESIDENTS IFOR CUSTOMERS OR BANK's OWN ACCOUNT} As of Idd. Minm. W) LFOR. 1,164RDPURCHASES A. BAIANCES As OF END OF DAYn Date Counter a Curren Contracted Notional . Spot Tenor Forward Exposure Amount EXchange Positive Fair Negative Fair ' INo, of UsD EquivalentZ EXchange Rate!" Being . Contract Fix Settlement Days} Type Name Base Settlement jin Original Rate Ixx. rocxi Value IPhpys yalue IPhpys Hedgedts Currency I I OCXXXxj TOTALAMOUNT OUTSTANDING 0,000 0,000 0000 TOTAL EXCLUDING AMOUNT FIXED 0000 B. TRANSACTIONS DURING THE DAY New Availment Maturi Curren Contracted Amount Currenc Contracted Beginning Balance Contracted Ending In Amount Contract Amountin in usD" Base Settlement in UsD Settlement Amount in UsD EXchange Balance in UsD' Original Date Base OriginalCcy Rate C TOTAL 0,000 TOTAL 0,000

, , NAME OF BANK DAILY REPORT ON NON-DEUVERABLE FORWARD TRANSACTIONS PARTVi. TRANSACriONSINOTiNVOLViNC PHIUPPiNE PESO} WITH NON-RESIDENTS IFOR CUSTOMERS OR BANK's OWN ACCOUNT) As of kid-Minm. Wi "FORWARDSALES A. BALANCES As OF END OF DAY Date counter a Currenc Contracted Notional Spot Tenor Forward Exposure Amount .EXchange Positive Fair Negative Fair Contract Fix Settlement INC. of Type Name Base Settlement jin Original usD Equivalentn. Rat's EXchange RateA Value IPhPf Valuejphpjs Being Days) Currency) .'IXXXXX) 0<XXXXi Hedgedre TOTALAMOUNTOUTSTANDING 0000 0000 0000 TOTAL EXCLUDING AMOUNT FIXED 0000 B. TRANSAcrloNS DURING THE DAY New Avai merit Maturi Curren Contracted Amount Currenc Contracted Beginning Balance In Amount Contract Amountin Contracted Ending in usD" Base Settlement in UsD Settlement Amountin UsD EXchange Balancein UsD Original Date Base OriginalCcy Rate Ccy TOTAL 0,000 TOTAL 0,000 Prepared By: Contact No. : Date Prepared: ' Refers to all deals that are outstanding. inclusive of those that have been fixed 'This column shall reflect tilthe UsD amount stated in the contract if the contract involves the UsD. orlii) the amount converted to UsD using the rate in the BSP Reference EXchange Rate Bulletin as of contract date in case of third currency ' Use the spot eXchange rate that became the basis for the forward rate that was agreed upon ' Use the forward eXchange rateindicatedin the contract/the contracted rate. ' Report the cumulative mark-to-market gains/110ssesiunder positive/megaLlvei, air value column. respectively. Total amount shall reconcile with the reported amount in the Financial Reporting Package. re Indicate nature or transaction and corresponding document. as applicable fiAmount should be equal to the ending balance in the previous day's report. in Amount should be equal to the Total Amount Outstanding in Section A