Modification of Reporting Period for the Consolidated Statement of Income and Expenses (CSIE)

CIRCULAR LETTER Series of 1999

TO : All Banks and Non-Bank Financial Institutions

SUBJECT : Modification of Reporting Period for the Consolidated Statement of Income and Expenses (CSIE)

Please be informed of the changes in the reporting period for the quarterly Consolidated Statement of Income and Expenses (CSIE) as follows:

PRESENT

NEW

For the Months Covered

For the Period Covered

CSIE Main Report 1st Qtr.

January to March * *

2nd Qtr. April to June

1st Sem. January to June

3rd Qtr. July to September

3 Qtrs. January to September

Year

January to December * *

Schedule I (Analysis of Profits and Surplus Year January to December * * (Free) Accounts) * No change

This modification in the reporting period requirement aims to expedite the evaluation of submitted reports particularly for the second and third quarters.

Implementation of this Circular-Letter shall commence in Year 2000. This will be discontinued after a two quarter-end successful parallel testing of Circular 108 GL/SL Reporting System.

ALBERTO V. REYES Deputy Governor