Guidelines on the Submission of the Report on Electronic Money Transactions

MEMORANDUM NO. M-2009-031

To:  All Electronic Money Issuers (EMIs)

Subject: Guidelines on the Submission of the Report on Electronic Money Transactions

Pursuant to BSP Circular No. 649 dated 9 March 2009 on the guidelines governing the issuance of electronic money (e-money) and the operations of EMIs in the Philippines, the following shall be observed relative to the submission of the Report on E-Money transactions:

1. The e-Money reporting templates can be accessed at http://www.bsp.gov.ph/frp/templates .  Said report shall be submitted to the BSP on a quarterly basis within 15 banking days after the end of the reference quarter.  The said report shall become effective starting with the reporting quarter ending 30 September 2009 for the initial run, which shall be submitted on or before 27 November 2009.  Submission of succeeding reports shall be subject to the prescribed deadline.

2. Institutions issuing e-money, classified as EMI-Bank (banks), EMI-NBFIs (non-bank financial institutions supervised by the BSP), and EMI-Others (non-bank institutions registered with BSP as a money transfer agent), shall accomplish Form I together with Schedule 1. Institutions/entities other than EMI-Banks and EMI-NBFIs, herein referred as EMI-Others shall accomplish Forms I, II, and related Schedules 1 to 3.

3. The corresponding file structures which shall serve as the institutions’ guide in creating their respective data base files in comma separated value (CSV) format for the e-Money reports are detailed in Annex A.

4. Institutions may either submit the MS Excel reporting templates or the DBASE file in CSV format.

5. The e-Money reports shall be submitted electronically to the following e-mail addresses:

E-mail Address                               Type of Reporting Institution [email protected]          Universal/Commercial Banks (U/KBs) [email protected]           Thrift Banks (TBs) [email protected]           Rural/Cooperative Banks (R/CBs) [email protected]          Non-Bank Financial Institutions (NBFIs) [email protected]   EMI-Others

using the following format for the subject:   “EMONEY <EMIname>,<reference period>”, e.g.,:

To      : [email protected] cc         : Subject   :  EMONEY <EMIname>, 30 September 2009

6. The Control Prooflist (Annex B), duly notarized and signed by the authorized official of the reporting institution, shall be sent within the prescribed submission deadline to the Director of the BSP Supervisory Data Center (SDC) via facsimile at (632) 523-3461 or 523-0230.

7. Institutions that are unable to transmit the e-Money reports electronically can submit said reports in CD together with the aforementioned Control Prooflist through messengerial or postal services within the prescribed deadline to:

The Director Supervisory Data Center (SDC) Bangko Sentral ng Pilipinas 16th Floor, Multi-Storey Building BSP Complex, A. Mabini Street Malate, Manila 1004

8. The e-Money reporting templates and other relevant attachments are also available upon request at the BSP-SDC through the above-mentioned e-mail addresses and/or postal address. For compliance.

NESTOR A. ESPENILLA, JR. Deputy Governor

Att:.A/S