Deadline for Production Submission of Credit Data; and Technical Requirements

September 28, 2015

CIC CIRCULAR NO. 02-15

 

Pursuant to Republic Act (R.A.) No. 9510 entitled: An Act Establishing the Credit Information System and for Other Purposes otherwise known as the Credit Information System Act, and its Implementing Rules and Regulations (IRR), this Circular is hereby issued to provide supplemental guidelines for the enforcement of CIC Circular No. 2015-01 dated 15 May 2015, in order to enforce and implement the Credit Information System.

SECTION 1. Scope. —

Rule 4.1 of the IRR of R.A. No. 9510 authorizes the Credit Information Corporation (CIC) to allow a phasing in, thus, this Circular shall cover the following entities to submit all credit data in their possession for the last five (5) years prior to the effectivity of this Circular:

1.1 Credit card issuers;

1.2 Universal and commercial banks, including their trust departments;

1.3 Thrift banks, including their trust departments;

1.4 Rural banks and entities with quasi-banking license issued by the Bangko Sentral ng Pilipinas, including their subsidiaries and/or affiliates that are engaged in the business of providing credit;

1.5 Financing companies;

1.6 Government-owned and-controlled corporations engaged in lending;

1.7 Large and medium cooperatives as defined by the CDA; and TAIaHE

1.8 Insurance companies, mutual benefit associations and other similar entities supervised by the Insurance Commission; and non-stock savings and loan associations.

Note:The complete list of data elements and data formats can be requested from the CIC by sending an e-mail to[email protected]

SECTION 2. Deadline for Production Submission. —

 

Submitting Entity	Deadline
Credit card issuers	30 November 2015
Universal and commercial banks,	31 March 2016
including their trust departments
Thrift banks, including their trust	30 April 2016
departments
Rural banks and entities with quasi-	30 June 2016
banking license issued by the BSP,
including their subsidiaries and/or
affiliates that are engaged in the
business of providing credit
Financing companies	31 August 2016
Government-owned and -controlled	30 September 2016
corporations engaged in lending
Large cooperatives as defined by the	30 October 2016
CDA
Medium cooperatives as defined by	31 December 2016
the CDA; insurance companies, mutual
benefit associations and other similar
entities supervised by the Insurance
Commission; and non-stock savings
and loan associations

SECTION 3. Technical Requirements. —

The Submitting Entity Information Sheet (Annex "A") must be accomplished and submitted together with the Secretary's Certificate (template of which is enclosed as Annex "B") or equivalent document that is acceptable to the CIC, designating the persons/representatives duly authorized to submit, as well as access the error report folders of the CIC's Credit Information System.

The Technical Requirements and guidelines for submission to the CIC are as follows:

1. Submission File

a. Must be extracted from .txt file in Unicode Transformation Format (UTF)-8 without byte order mark (BOM) format, compressed and zipped into a .zip file and encrypted into a .gpg file;

b. Must be in UTF-8 format without BOM and could be verified using Notepad++;

c. File must conform with validation rules defined by the CIC; and

d. File Encryption software used must be the latest Gpg4Win software from Gpg4Win website*.

2. Access to File Transfer Protocol (FTP) Submission Folder

a. Internet connection must use FTP Client software with Transport Layer Security (TLS) 1.2 support such as but not limited to CuteFTP or FileZilla*;

b. Anti-Virus software must be installed and must be updated on the equipment where transmission is to originate to ensure that Submission File is free from malware; and

c. Submission File must be sent behind the Submitting Entity's firewall with its registered public Internet Protocol (IP) address.

*Note: CIC Encryption Key and login credentials will be sent by the CIC once registration process is completed.

SECTION 4. Sanctions. —

Non-submission of reports, and/or delayed submission of reports as well as submission of erroneous data shall subject the entity to sanctions, as hereinafter promulgated by the CIC.

SECTION 5. Repealing Clause. —

All issuances, orders, rules and regulations or parts thereof that are inconsistent with the provisions of this Circular are hereby repealed, amended or modified accordingly.

SECTION 6. Separability Clause. —

Should any provision of this Circular be declared invalid or unconstitutional, the other provisions not affected thereby shall remain valid and subsisting.

SECTION 7. Effectivity. —

This Circular shall be effective fifteen (15) calendar days after the date of its publication either in the Official Gazette or in a newspaper of general circulation in the Philippines and upon filing with the University of the Philippines Law Center of three (3) certified copies.

Signed this 28th day of September 2015, Makati City, Philippines.

(SGD.) MR. JAIME CASTO JOSE P. GARCHITORENAPresident

ANNEX A

 

ANNEX B

Republic of the Philippines}

______________________} S.S.

Secretary's Certificate

I, __________________________, Filipino, of legal age, with address at _________________________________, under oath, state: cDHAES

1. I am the duly elected Corporate Secretary of _____________________________ (the "Corporation"), a corporation duly organized and existing under and by virtue of the laws of the Republic of the Philippines with office address at _____________________________________.

2. As Corporate Secretary, I have possession of the records of the Corporation.

3. During the Regular/Special Meeting of the Board of Directors held on _____________ at __________________, wherein a quorum was present and acted throughout, the following resolutions were unanimously approved and adopted:

"RESOLVED, AS IT IS HEREBY RESOLVED, that __________________________ is the authorized representative of the Corporation to sign the Submitting Entity Information Sheet to be submitted to the Credit Information Corporation;

"RESOLVED, AS IT IS HEREBY RESOLVED, that the following employees/personnel of the Corporation are duly authorized to submit the credit data of the Corporation's borrowers or data subjects as defined and pursuant to the requirements of Republic Act No. 9510 to the Credit Information Corporation (CIC); as well as access the error report folders of CIC's Credit Information System:

Name	Position
__________________	__________________
__________________	__________________
__________________	__________________
__________________	__________________

The foregoing names shall likewise be indicated in the Information Sheet to be submitted to the CIC.

RESOLVED FINALLY, that the following resolutions shall remain valid and binding unless the Corporation, through Board Resolution or Secretary's Certificate, issues and transmits to the CIC a subsequent Board Resolution or Secretary's Certificate expressly repealing or amending any or all of these resolutions."

4. The foregoing resolution has not been revoked, modified or suspended, and shall remain in full force and effect, and may be relied upon unless written notice to the contrary is issued by the Corporation.

IN WITNESS WHEREOF, I hereby affix my signature this _____________ at ______________________.

_________________Corporate Secretary

SUBSCRIBED AND SWORN to before me this _________ day of ______________ at ____________________, affiant exhibiting to me his/her government issued identification card valid until ______________ in ______________.

 

Doc. No. _____;Page No. _____;Book No. _____;Series of 2015.