Report on Bank Liabilities to Non-Residents

CIRCULAR LETTER NO. CL-2008-024

To : All Universal, Commercial and Thrift Banks

Subject : Report on Bank Liabilities to Non-Residents

Pursuant to Monetary Board Resolution No. 439.A dated 10 April 2008, all Universal Banks, Commercial Banks and Thrift Banks are hereby instructed to continue the submission to the International Department of their Report on Bank Liabilities to Non-residents. The report is hereby renumbered as ID Form 5, effective report month ending 30 April 2008.

The report shall be transmitted by electronic mail to the International Department ( [email protected] ) on or before the deadline, i.e., 15th banking day of the month following the reference month, following the format and guidelines indicated in the attached Annexes 1-3.

Banks shall also submit, on or before said deadline, a hard copy certification signed by a duly authorized officer attesting to the correctness of the data reported and consistency thereof with the Financial Reporting Package (FRP) and its related schedules using the attached format (Annex 2). For this purpose, a copy of the Board Resolution covering the designation of authorized signatory/ies for ID Form 5 as a Category A-2 report, including the specimen signatures of the designates, shall be submitted to the International Department on or before the submission of the April 2008 report.  Any subsequent change or update should  also be immediately transmitted to the International Department .

Penalties for delayed/unsubmitted/erroneous/incomplete reports shall be imposed in accordance with Subsection X162.2 of the Manual of Regulations for Banks for Category A-2 reports.

Any provision or reporting guideline contained in Circular Letters dated 11 August 1994,  29 July 1999,  18 February 2003 and 30 June 2003 inconsistent herewith is deemed superseded.

Queries regarding subject report may be addressed to the International Department (c/o Standards and Data Control Group) and transmitted by e-mail ( [email protected] ), FAX No. 536-0053 or Telephone No. 523-4114.

DIWA C. GUINIGUNDO Deputy Governor