CBP Circular Letter

March 31, 1981 CBP CIRCULAR LETTER TO : All Banks Except Rural Banks Item No. 2 of Letter of Instructions No. 1107 dated February 16, 1981 provides that: "A credit information exchange system shall be initiated by the Central Bank of the Philippines, which shall provide data on bank borrowings, commercial paper issuances and other forms of borrowing, to banks and other financial institutions. The data shall be obtained from financial institutions and shall be released on an exchange arrangement, after the appropriate summarization and classification of data." In this connection, please submit a quarterly report of your exposure in the form of Loans, Commercial Papers/Receivables and Bonds Purchased/Sold (Excluding Government Securities Purchased Outright), Lease Contracts Receivable, Equity Investment, Stand-by Letters of Credit/Guarantee, Regular and Deferred Letters of Credit/Authority to Purchase (Domestic and Import), and Commercial Papers/Receivables Sold on a Without Recourse Basis to individuals, companies or groups of companies aggregating P20 million and above. The Trust Department and/or Investment Management Division shall submit similar reports. A sample of the report (CBP 7-16-35) is attached together with the detailed instructions for its accomplishment. The first report shall be as of March 31, 1981 and thereafter as of the end of every quarter and shall be submitted on or before ten (10) banking days following the end of each quarter to the appropriate supervising and examining department. Institutions that do not have exposures to individuals, companies or groups of companies aggregating P20 million and above may simply submit a letter stating that they do not have such large exposures as of the end of the quarter concerned. The reports submitted by the banks and NBFIs concerned shall be summarized and an information exchange arrangement shall be developed in cooperation and coordination with the industry associations, i.e., Bankers Association of the Philippines, Chamber of Thrift Banks, Investment Houses Association of the Philippines and Philippine Association of Finance Companies. (SGD.) GABRIEL C. SINGSON Senior Deputy Governor