Amendments to Provisions in Part III (Assessments of the PDIC Rules and Regulations, as Amended)

May 6, 2002

PDIC REGULATORY ISSUANCE NO. 04-02

AMENDMENTS TO PROVISIONS IN PART III (ASSESSMENTS OF THE PDIC RULES AND REGULATIONS, AS AMENDED)

Pursuant to the provisions of R.A. 3591, (PDIC Charter) and PDIC Board Resolution No. 2002-04-055 dated 18 April 2002, the following Regulations are hereby promulgated:

SECTION 1. Amendments. —

a. Section 3.02 of the PDIC Rules and Regulations, as amended, is hereby amended to read as follows:

"Sec. 3.02 — Assessment Base — The assessment base shall be the aggregate of any bank's deposit liabilities in accordance with the definition of the term "deposit" pursuant to Section 3(f) of RA 3591, as amended, and Section 1.01 (e) of these Rules and Regulations without any deduction or indebtedness of depositors. Deposit liability accounts, such as, but not limited to the following, shall also form part of the assessment base computation, irrespective of the designation/name assigned to such account:

1. Peso "Demand", Special Savings"

2. "NOW" Accounts

3. Foreign Currency Demand, Savings and Time

4. "Special" Foreign Currency

5. "Barrio Savings Fund"

6. "Barrio Guarantee Fund"

7. "Barrio General Fund"

8. Accrued Interest Payable on "Demand"/"NOW"/SAVINGS/"Special Savings" and Time Deposits

9. Such other liability accounts of an insured bank which are hereto deemed, solely for purposes of assessments, as deposit liabilities booked under such accounts as, but not limited to, those indicated in page 2 of PDIC Form No. 201-A-1 (Annex 1).

The semi-annual assessment base for the semi-annual assessment ending June 30 shall be the average of the assessment base of the bank as of the close of business on September 30 and December 31 and the semi-annual assessment base for the semi-annual assessment ending December 31 shall be the average of the assessment base as of the close of business on March 31 and June 30.

In case a bank which is incorporated under the laws of the Philippines and which maintains a branch outside the Philippines elects to include for insurance its deposit obligations payable only at such branch, it shall include such deposit obligations as part of the 'deposits' subject to assessment.

Deposits maintained in foreign currencies in an insured bank shall form part of the total deposit obligations of said bank. Foreign currency denominated deposits shall be converted to pesos using the rate reported in the Reference Exchange Rate Bulletin issued by the Bangko Sentral ng Pilipinas on the banking day immediately following the base day/s or closing rate as of the base day/s."

b. Sec. 3.08, ibid., is hereby amended to read as follows:

"Sec. 3.08. Filing of Certified Statements — The Certified Statements required to be filed by insured banks in accordance with Section 6(b) of R.A. 3591, as amended, shall be filed with PDIC upon the forms, and in the manner prescribed by the Board of Directors of PDIC. The certified statement form shall be reproduced by the banks themselves and filed with PDIC as follows:

a. PDIC Form No. 202 — First Certified Statement — This form shall be accomplished by the newly opened, reopened or rehabilitated bank and filed with PDIC upon the expiration of the first semi-annual period in which it becomes an insured bank. This form shows the deposit liabilities for only one base day, either June 30 or December 31, whichever date is applicable. When any of said base days is a holiday or non-business day, the preceding business day shall be used. The form also shows the computation of the assessment base and the amount of the assessment due to PDIC. It must be signed under oath by an authorized officer of the bank, two copies, one of which is the original copy, forwarded to PDIC on or before July 31 or January 31, as the case may be, and a copy or copies retained in the bank's files." caHIAS

b. PDIC Form No. 201 — Regular Certified Statement — This form shall be accomplished and filed with PDIC on or before January 31 and July 31 of each year by every insured bank, except newly insured banks which must submit their First Certified Statement on PDIC Form No. 202. PDIC Form No. 201 shows the deposit liabilities for the two base days in each semi-annual period. The base days are March 31 and June 30 for the six (6)-month period ending June 30, and September 30 and December 31 for the six (6)-month period ending December 31. When any of said base days is a non-business day or a holiday, the preceding business day shall be used. The form shows the computation of the assessment base and the amount of the assessment due to the PDIC. It must be signed under oath by an authorized officer of the bank, the original and a copy forwarded to PDIC, and a copy or copies retained in the bank's files."

Simultaneous with the filing of the certified statements, banks shall also be required to submit the following documents necessary to support such filing and the assessment paid to the Corporation:

1. PDIC Assessment Form No. 201-A-1 — Consolidated Schedule of Deposits and Other Related Accounts (pages 1 and 2); Annex 1 *

2. PDIC Assessment Form No. 201-A-1.1 — Consolidated Schedule of Foreign Currency Deposits. Annex 2 *

3. PDIC Assessment Form No. 10 — Breakdown of Accrued Taxes and Other Expenses (BATOE); Annex 3

SECTION 2. Repealing Clause. — The provisions of PDIC Rules and Regulations, as amended, and all other related rules and regulations which are inconsistent herewith are hereby repealed or amended accordingly.

SECTION 3. Effectivity. — These Regulations shall take effect fifteen (15) days after publication in a newspaper of general circulation.

For guidance and strict compliance.

Adopted May 6, 2002

 

(SGD.) ROSALINDA U. CASIGURANOfficer-in-Charge

 

Consolidated Schedule of Deposits and Other Related Accounts

 

 

 

 

 

 

Consolidated Schedule of Foreign Currency Deposits

 

 

Breakdown of Accrued Taxes and Other Expenses