Guidelines on the Electronic Submission of the Updated Reports Arising from Circular No. 941
BSP Memorandum No. M-2017-030 outlines the electronic submission guidelines for updated reports related to past due and non-performing loans, effective from the reporting period ending September 30, 2017. Banks are required to submit reports electronically to designated email addresses, using prescribed file names and formats. Hard copies are not accepted; however, if electronic submission fails, reports can be submitted via compact disc or USB. Only submissions from officially registered bank email addresses will be recognized, and non-compliance with the guidelines will result in reports being deemed unsubmitted, potentially incurring penalties.
Quick Answers
- What is Guidelines on the Electronic Submission of the Updated Reports Arising from Circular No. 941 about?
- BSP Memorandum No. M-2017-030 outlines the electronic submission guidelines for updated reports related to past due and non-performing loans, effective from the reporting period ending September 30, 2017. Banks are required to submit reports electronically to designated email addresses, using prescribed file names and formats. Hard copies are not accepted; however, if electronic submission fails, reports can be submitted via compact disc or USB. Only submissions from officially registered bank email addresses will be recognized, and non-compliance with the guidelines will result in reports being deemed unsubmitted, potentially incurring penalties.
- What type of law is BSP Memorandum No. M-2017-030?
- Guidelines on the Electronic Submission of the Updated Reports Arising from Circular No. 941 (BSP Memorandum No. M-2017-030) is a Philippine Other Rules and Procedures enacted by the Congress of the Philippines.
- When was Guidelines on the Electronic Submission of the Updated Reports Arising from Circular No. 941 enacted?
- Guidelines on the Electronic Submission of the Updated Reports Arising from Circular No. 941 (BSP Memorandum No. M-2017-030) was enacted on Oct 2, 2017.
- What is the citation for Guidelines on the Electronic Submission of the Updated Reports Arising from Circular No. 941?
- Guidelines on the Electronic Submission of the Updated Reports Arising from Circular No. 941, BSP Memorandum No. M-2017-030, Oct 2, 2017 (Philippines)
Law Information
- Reference Number
- BSP Memorandum No. M-2017-030
- Date Enacted
- Category
- Other Rules and Procedures
- Subcategory
- Banks and Banking
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
October 2, 2017
BSP MEMORANDUM NO. M-2017-030
| TO | : | All Banks |
| SUBJECT | : | Guidelines on the Electronic Submission of the Updated Reports Arising from Circular No. 941 |
Pursuant to Circular No. 941 dated 20 January 2017 on the Amendments to the Regulations on Past Due and Non-Performing Loans, the following submission guidelines shall be observed beginning with the reporting period ending 30 September 2017:
1. The list of covered reports for electronic submission, the prescribed e-mail address designated for each covered report, the prescribed file name for the said reports and the required standard format for the subject line of the e-mail transmission are provided in the attached Annex A.
2. The prescribed Data Entry Template (DET), database file structure and corresponding control prooflist (CP) for each covered report prescribed for submission can be downloaded from http://www.bsp.gov.ph/SES/reporting_templates or requested from the BSP-Supervisory Data Center (SDC).
3. The prescribed DET or database file, as the case may be, together with the corresponding scanned CP in Portable Document Format (PDF) duly certified and signed by the authorized official of the reporting bank shall be transmitted electronically within deadline to the prescribed e-mail address indicated in the attached Annex A.
4. Hard copy submissions shall not be accepted. Banks that are unable to transmit electronically via e-mail can submit such report and the corresponding scanned CP in compact disc (CD) or any portable storage device (e.g., USB) through messengerial or postal services within the prescribed deadline to:
The Director
5. In accordance with BSP Memorandum No. M-2017-028 dated 11 September 2017, only electronic submissions originating from officially registered e-mail address/es of the bank shall be recognized and accepted by the SDC. Same registered e-mail address/es shall be used by the SDC in electronically acknowledging the submitted report and transmitting the corresponding validation results.
6. Report submissions that do not conform to the above prescribed procedures shall not be accepted and, thus, considered unsubmitted. It likewise follows that only the DETs or database file structures prescribed by the BSP shall be accepted as compliant with the existing reportorial requirements subject to validation and applicable penalties for late and/or erroneous reporting.
For compliance.
(SGD.) CHUCHI G. FONACIERDeputy Governor
ANNEX A
A. Prescribed reports for All Banks
Cite This Law
Guidelines on the Electronic Submission of the Updated Reports Arising from Circular No. 941, BSP Memorandum No. M-2017-030, Oct 2, 2017 (Philippines)
Guidelines on the Electronic Submission of the Updated Reports Arising from Circular No. 941, BSP Memorandum No. M-2017-030 (Phil. 2017)
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