Reportorial Requirements for Bank Deposit Interest Rates

BangKO Sentral Ng PiliPiNaS

OFFICE OF THE GOVERNOR

CIRCULAR NO. 848 Series of 2014

Subject: Reportorial Requirements for Bank Deposit Interest Rates

Pursuant to Monetary Board Resolution No. 1296 dated 20 August 2014, Section X149 and Appendix 6 of the Manual of Regulations for Banks (MORB) are hereby amended.

Section 1. Reportorial Requirement

of the MORB, to read as follows: A new Subsection X149.8 is hereby added to Section X149

monitoring banks that rely excessively on large, high-cost purposes or volatile "Subsection of determining market median rates deposits/borrowingsspecified X149.8 Reportorial Requirement. on deposits in Item D and For of Appendix 48 of the MORB, all banks shall submit a quarterly report on bank deposit interest rates which shall be included in the Report of Selected Branch Accounts.

Section 2. Appendix 6 of the MORB is hereby amended, to add the schedule of bank deposit interest rates in the Report of Selected Branch Accounts and amend the frequency of report submission to quarterly basis from semestral basis. The report shall be submitted 20 banking days after end of reference quarter and shall become effective starting with the 30 September 2014 quarterly report. The guidelines in accomplishing the reportorial requirement for bank interest rates and the corresponding report template for bank deposit interest rate are attached herewith as Annex A.

Section 3. The Report of Selected Branch Accounts shall remain as Category A-3 report subject to sanctions under Subsection X192.2 of the MORB. The details on the mode and manner of submission of the revised Report of Selected Branch Accounts shall be covered by a separate Memorandum to All Banks.

Section 4. This Circular shall take effect within fifteen (15) calendar days following its publication either in the Official Gazette or in a newspaper of general circulation.

FOR THE MONETARY BOARD:

3m&

DIWAC. GUINIGUNDO Officer-in-Charge

X September 2014

A. Mabini St., Malate 1004 Manila, Philippines * (632) 7087701 - www.bsp.gov.ph * [email protected]

Annex A

Guidelines on Reportorial Requirements for Bank Interest Rates

1 For purposes of determining the benchmarks for deposit interest rates,

to the walk-in rate being offered to clients for the following peso deposit products banks shall be required to disclose the nominal interest rates which refers

a Peso Time Deposit Account shall refer to interest bearing

of time/term and evidenced by certificate issued by the bank. peso account which requires a specific amount of funds to earn interest at a predetermined competitive rate for a fixed period

b Regular Peso Savings Account shall refer to interest bearing

peso account which is withdrawable either upon presentation of a properly accomplished withdrawal slip together with the corresponding passbook or thru automated tellering machines.

of children with an initial deposit of Php 100 and no maintaining balance requirement. Kiddie savings account shall refer to interest bearing savings account

rate compared to the rate for regular savings account. Other Peso Savings Account shall refer to interest bearing special peso savings account which offers tiered interest rates depending on the size of deposit. It usually carries higher interest

2. The bank shall report the number of accounts and amount of deposits for

each of the deposit product in the template on a per branch basis as of the reporting period.

troduct. and shall disclose the name of the product that falls under this deposit 4/The bank shallreportall the products that fall under other savings deposit requirement. of children with an initial deposit of Php 100 and no maintaining balance 3/ The Kiddie Savings account pertains to the interest bearing savings account ount. 2/ The amount of deposits shall be reported in Philippine peso, in absolute Walk-in rate being offered to clients. I/ The bank shall report the nominal interest rate which refers to the regul. G OFFICE B NAME LOCATION OF BRANCH Bank Interest Rate

ADDRES

unts No. of Below 50,000.00 0 222322220 .0 Amount

B 0.00 0.00 0.00 Account Amount No.O 50,000.00 - 100,000.00

Acco S No. of 100,000.01 -500,000.00 0 s 8 00 8 00 00 .0 0 0.00 0.00 No. of Acco Amount 500,000.01 01

O 88888888888 0.0 Amount 1,000,000.00

Accounts No. of 1,000,000.01 AND ABOVE C

U 222112211 .0 Amount

Accounts No. of

00 Amount " Below 50,000.00

Rate Inter

product. and shall disclose the name of the product that flls under this deposit 4/The bank shallreportall the products that fall under other savings deposi requirement. of children with an initial deposit of Php 100 and no maintaining balance 3/ The Kiddie Savings account pertains to the interest bearing savings acoun ount. 2/ The amount of deposits shall be reported in Philipine peso, in absolute walk-in rate b eing offered to clients. I/ The bank shall report the nominal interest rate which refers to the regular E 0ES BANE C LOCATION OF BRANCHES Bank Interest Rate

E on (Net of NCR

G

8 BTO ADDRES

CODE BRANCI

SEQ. NO

0.00 0.00 Amount 2 Accounts Interest Rate No. of 50,000.00 - 100,000.00

0.0 0.00 Accounts Amount 2 Interest Rate No. of 100,000.01 - 500,0000 LESS THAN 30 DAYS

ACccounts Amount No. of 500,000.01 - 1,000,000.00 Interest Rate

Accounts Amount 2 No. of L000 ,000.01AND ABOV

terest Rat

roduct. Ind shalldisclose the name of the product that flls under this deposit A/ The bank sallreprt al te products tht fal under othe saving deposit equirement. of children with an initial deposit of Php 100 and no maintaining balance 3/The Kiddie Savings account pertains to the interest bearing savings accoun ount. 2/ The amount of deposits shall be reported in Phiippine peso, in absolute valk-in rate being offered to clients. 1/ The bank shall report the nominal interest rate which refers to the regula onNet of NCR OFFICE ADDRES: BANKING NAME OF LOCATION OF BRANCHES Bank Interest Rate

CODE BRANCH

SEQ.N

Accounts No. of

0.00 0.00 Amount Interest Rate 1 Below 50,000.00

00 Amount Accounts Interest Rate No. of 50,000.00 -100,000.00

G Accounts Amount 2 No. of 100,000.01 - 500,000.00 30-59 DAYS

Interest Rate " Accounts Amount No.of 500,000.01 -1,000,000.00 Interest Rate

t. roduct. 'equirement. of children with an initial deposit of Php 100 and no maintaining balance 3/ The Kiddie Savings account pertains to the interest bearing savings account amount. 2/ The amount of deposits shall be reported in Philipine peso, in absolute Valk-in rate being offered to clients. I/ The bank shallreport the nominal interest rate which refers to the regula (Net of NCF Ion E NC OFFICE BANKING ADDRE NAME OF LOCATION OF BRANCHES Bank Interest Rate

0.0 Amount " Accounts No. of L,000,000.01 AND ABOVE

Interest Rate "

Accounts No. of

0.00 Amount " Interest Rate 3elow 50,000.00

O 0.00 Accounts Amount " No. of 50,000.00 - 100,000.00

Interest Rate "

0.0 Accounts Amount " No. of 10000.01 - 500,000.00 60-89 DAYS

Interest Rate

roduct and shall dsclose the name of the product that flls under this deposit 4/The bank shall reportall the products that fll under other savings deposi requirement. of children with an initial deposit of Php 100 and no maintaining balance 3/The Kiddie Savings account pertains to the interest bearing savings account mount 2/ The amount of deposits shall be reported in Philippine peso, in absolute valk-in rate b eing offered to clients. 1/ The bank shall report the nominal interest rate which refers to the regular zon (Net of NCR NCH OFFICE BANKING ADDRES NAME OF LOCATION OF BRANCHES Bank Interest Rate

SEQ

0.00 0.00 0.00 Amount " Accounts Interest Rate No. of 500,000.01 - 1,000,000.00

.00 Accounts Amount " interest Rate No. Of 1,00,000.01 AND ABOVE

Accounts No. of

Amount 2" Below 50,000.00 e

C 0.00 0.00

Interest Rate Pe

Accounts No. of ime

0 Amount " 50,000.00 - 100,000.00

Interest Rate

product. and shll isclose te nae f the produt tht al unde tis deposit 4/The bak salreportallthe produts tht fall nderothersvings depoit requirement. of children with an initial deposit of Php 100 and no maintaining balance IThe Kiddie Savings account pertains to the interest bearing savings account 3 nount. 2/ The amount of deposits shall be reported in Philippine peso, in absolute Walk-in rate being offered to clients. 1/ The bank shall report the nominal interest rate which refers to the regular zon(Net of NCR OFFICE BANKING ADDRES NAME OF LOCATION OF BRANCHES Bank Interest Rate

0 3RA

SEQ.C

0 Accounts Amount t No. of 100,000.01 - 500,000.00 90-179 DAYS

Interest Rate "

0.00 Accounts Amount interest Rate " No. of 500,000.01 - 1,000,000.00

0.0 0.00 Accounts Amount 2 No. of 1,000,000.01 AND ABOVE

Interest Rate

Accounts No. of

Amount t Below 50,000.00 Interest Rate

Droduct. and shal disclose the name of the product that fals under this deposit 4/The bank shallreportall the products that fll under other savings deposit requirement. of children with an initial deposit of Php 100 and no maintaining balance 3/ The Kiddie Savings account pertains to the interest bearing savings accoun mount. 2/ The amount of deposits shall be reported in Philipine peso, in absolute walk-in rate being offered to clients. 1/ The bank shallreport the nominal interest rate which refers to the regula G Zon(Net of NCR) NCH OFFICE AME OE ADDRES LOCATION OF BRANCHES Bank Interest Rate

CODE BRANCH

SEQ. NO

0.00 Accounts Amount 2 Interest Rate 1 No. of 50,000.00 - 100,000.00

0 0.0 Accounts Amount No. of 100,000.01 -500,000.00 180-359 DAYS

Iinterest Rate "

D C 0.00 Accounts Amount t[interest Rate No: of 500,000.01-1,000,000.00

0 Amount " Accounts No. of 1,000,000.01 AND ABOVE

Iinterest Rate

oduct. S and shall disclose the name of the product that flls under this deposit The bank shall report all the products that fal under other savings deposi E requirement. of children with an initial deposit of Php 100 and no maintaining balance 3/The Kiddie Savings account pertains to the interest bearing savings account mount. 2/ The amount of deposits shall be reported in Philipine peso, in absolute walk-in rate being offered to clients. I/ The bank shall report the nominal interest rate which refers to the regular On(Net of NCR) C OFFICE BANE C LOCATION OF BRANCHES Bank Interest Rate

ADDRES

CODE BRANCH

SEQ 2

Accounts No. of

0.00 Amount " Interest Rate " Below 50,000.00

0.00 Accounts Amount interest Rate " No. of 50,000.00 -100,000.00

0.0 Amount 2 Accounts No. of 10,000.01 - 500,000.00 1 YEAR (360-365 DAYS)

Interest Rate 1

Accounts Amount No. of 500,000.01-1,000,000.00 Interes Rate

Droduct and shll isclose te nae of the product that al unde tis deposit 4/ The bank shllreprt al te produts tht fal under othersavings deposit requirement. of children with an initial deposit of Php 100 and no maintaining balance 3/ The Kiddie Savings account pertains to the interest bearing savings accoun mount. 2/ The amount of deposits shall be reported in Phipine peso, in absolute Walk-in rate being offered to clients. 1/ The bank shall report the nominal interest rate which refers to the regular on(Net of NCR NC OFFICE BAE C ADDRES LOCATION OF BRANCHES Bank Interest Rate

SSs BRANCH

SEQ.NO

0.00 Accounts Amount Interest Rate No. of 1,000,000.01 AND ABOVE

Accounts No. of

0.00 Amount 2* nterest Rate Below 50,000.00

0.00 Accounts Amount 2interest Rate No. of 50,000.00 - 100,000.00

Accounts Amount No. of 100,000.01 - 500,0.00 MORE THAN 1 YEAR Interest Rate

roduct. and shal isclose te name f the produt tha al undr tis eposit 4/, he ban sha epot allthe products tht fal nderoter savings depoit requirement. f children with an initial deposit of Php 100 and no maintaining balance I The Kiddie Savings acount pertains to the interest bearing savings account E mount. 2/ The amount of deposits shall be reported in Philippine peso, in absolute Walk-in rate being offered to clients. I/ The bank shallreport the nominal interest rate which refers to the regular on (Netof NCR NG OFFICE BANKING NAME OF LOCATION OF BRANCHES Bank Interest Rate

ADDRE

BR C

SEQ

.00 Accounts Amount No. of 500,000.01 - 1,000,000.00

Interest Rate 1

0.00 Accounts Amount " interest Rate Noo 1,000,000.01 AND ABOVE

C 00 Abt Amount 2 nterest Rate Regular Peso Savings

Abe Amount Kiddie Savings

Interest Rate

Droduct. and shall disclose the name of the product that falls under this deposit 4/ The ban shalreportall he products tht fal nderothersavings depost requirement. of children with an initial deposit of Php 100 and no maintaining balance The Kiddie Savings account pertains to the interest bearing savings acoun E ount. E 2/ The amount of deposits shall be reported in Phippine peso, in absolute walk-in rate being offered to clients I/ The bank shallreport the nominal interest rate which refers to the regular o OFFICE BANKING NAME OF LOCATION OF BRANCHES Bank Interest Rate

(Ne C OENC ADDRESS

CODE BRANCH

SEQ.NO

No. of Acc mount Below 50,000.00 New ColumnDelete Column Other Peso Savings Deposit Product 0.0 .0 0

Interest Rate "

Amount " No. of Accounts 50,000.00 - 100,000.00 Bos EG 0.00

Interest Rate No. of Accounts Pe So Sa VRCS E S

0 Amount 00,000.01 - 500,000

nterest Rate

C

product. and shall disclose the name of the product that flls under this deposit The bank shalreport all the products that fll under other savings deposi E equirement. of children with an initial deposit of Php 100 and no maintaining balance 3/ The Kiddie Savings account pertains to the interest bearing savings account 2/ The amount of deposits shall be reported in Philipine peso, in absolute Walk-in rate being offered to clients. 1/ The bank shall report the nominal interest rate which refers to the regula OE OFFICE BANKING NAMEOE LOCATION OF BRANCHES Bank Interest Rate

ADDR

0.00 Amount " No. of Accounts 500,000.01 - 1,000,000.00

Interest Rate 1

Amount 2 Interest Rate No. of Accounts L,000,000.01 AND ABOVE r Product Nam