Disclosure of CAMELS Rating of BSP-Supervised Financial Institutions (BSFIs)

January 22, 2016 BLGF MEMORANDUM CIRCULAR NO. 004-16 TO : All Regional Directors of this Bureau; All Provincial, City and Municipal Treasurers; and All Others Concerned SUBJECT : Disclosure of CAMELS Rating of BSP-Supervised Financial Institutions (BSFIs) In accordance with Department of Finance (DOF) Circular Nos. 001-2015 and 002-2015, prescribing the revised guidelines on authorized government depository banks, all local government units shall be serviced only by government financial institutions with a universal bank license and a CAMELS rating of at least "3". Relative to this, attached is copy of Memorandum Circular No. M-2015-040 of the Bangko Sentral ng Pilipinas dated November 5, 2015, on the Prohibition Against Disclosure of the Report of Examination (ROE) and the Contents Thereof, which provides that: BSFIs are also allowed to disclose their most recent CAMELS ratings to National Government Agencies (NGAs), Government-Owned or Controlled Corporations (GOCCs), and Local Government Units (LGUs), without prior BSP consent through a certification, if such information is requested by the NGAs, GOCCs, or LGUs for the purpose of complying with a requirement of another government agency. These government agencies may validate with the BSP the CAMELS ratings disclosed to them by BSFIs by submitting to the BSP, BSFIs' (i) certification on their CAMELS rating, and (ii) authorization in favor of the government agencies to validate the said certification with the BSP. In this regard, all Regional Directors are hereby instructed to widely disseminate this Circular to all Provincial, City and Municipal Treasurers, copy furnished the concerned Local Chief Executive, within their respective regional jurisdictions. For strict compliance. (SGD.) JOCELYN T. PENDON OIC-Executive Director ATTACHMENT DOF Department Circular No. 001-15 June 1, 2015. DOF Department Circular No. 002-15 July 10, 2015. BSP Memorandum No. M-2015-040 November 5, 2015.