Parallel run of the original and revised Risk-Based Capital Adequacy Ratio (CAR) Reports under Circular No. 688

MEMORANDUM NO. M-2010-046

To:  All Stand-alone Thrift Banks, Rural Banks and Cooperative Banks

Subject: Parallel run of the original and revised Risk-Based Capital Adequacy Ratio (CAR) Reports under Circular No. 688

In connection with the pilot run of the Risk-Based Capital Adequacy Ratio (CAR) Reports under Circular No. 688 dated 26 May 2010, all stand-alone thrift, rural and cooperative banks shall submit the hard copies of both the original and the revised CAR Reports, starting with the end-December 2010 report until the end-December 2011 report, to the Supervisory Data Center in accordance with the following submission deadlines:

a) Solo basis – within 15 banking days after end of reference quarter; and

b) Consolidated basis – within 30 banking days after end of reference quarter.

Banks shall discontinue the submission of CAR reports issued under Circular No. 280 dated 29 March 2001 upon the effectivity of Circular No. 688 on 1 January 2012.

For strict compliance.