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Subject:: Banoko Sentral Pilipinas

The Bangko Sentral ng Pilipinas approved amendments to reporting requirements for banks that are part of a report rationalization initiative. The initiative aims to ensure only relevant information is collected while promoting ease of doing business for financial institutions. Several reports listed in Appendix 7 of the Manual of Regulations for Banks are being deleted to reduce reporting burdens. The Circular announcing these changes will take effect 15 days after publication.

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Gilbert Aldana Galope
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38 views1 page

Subject:: Banoko Sentral Pilipinas

The Bangko Sentral ng Pilipinas approved amendments to reporting requirements for banks that are part of a report rationalization initiative. The initiative aims to ensure only relevant information is collected while promoting ease of doing business for financial institutions. Several reports listed in Appendix 7 of the Manual of Regulations for Banks are being deleted to reduce reporting burdens. The Circular announcing these changes will take effect 15 days after publication.

Uploaded by

Gilbert Aldana Galope
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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BANOKO SENTRAL NG PILIPINAS

OFFICE OF THE GOVERNOR

crRcuLAR NO.1,057
Series of 2OL9

Subject: RationalizationofPrudentialReportingRequirements

The Monetary Board in its Resolution No. 1479 dated 27 September 20L9,
approved the amendments to Appendix 7 (Reports Required of Banks), an appendix to
Section L73 of the Manual of Regulations for Banks (MORB) and other relevant sections of
the MORB as part of the report rationalization initiative of the Bangko Sentral.

Section 1. Policy Statement. Cognizant of the significant developments in the


regulatory and business environment, the Bangko Sentral is continuously reviewing the
prudential reports required from BSP supervised financial institutions (BSFls) to ensure
that information being gathered remain relevant to the surveillance and supervisory
functions of the Bangko Sentral. The report rationalization initiative aims to contribute to
continuing adherence to internationally recognized standards and practices on data
aggregation and governance as well as promote ease of doing business in BSFls.

Section 2. Appendix 7. REPORTS REQUIRED OF BANKS. Appendix 7 is hereby


amended by deleting the reports listed in "Annex A" from the reports required to be
submitted by banks. All references to reports listed in Annex A and embodied in various
sections of the MORB are likewise deleted.

Section 3. Effectivity. This Circular shalltake effect fifteen (15) calendar days after
its publication either in the Official Gazette or in a newspaper of general circulation.

FOR THE MONETARY BOARD:

c- q.
BENJAMIN E. DIOKNO
Governor

lt October 2019

A. Mabini St. Malate 1004 Manila, Philippines*(632) 7087701'www.bsp.gov.phrbspmail@bsp.gov.ph

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