Accounting Alert

This Accounting Alert is issued to circulate Bangko Sentral ng Pilipinas (BSP) Memorandum No. M-2021-003 dated January 8, 2021 on the guidelines on the electronic submission of report on reclassification of debt securities (RRDS) out of the fair value category for all BSP-Supervised Financial Institutions (BSFIs).

Guidelines on the Electronic Submission 

Pursuant to Memorandum No. M-2020-022 dated April 8, 2020 on the reclassification of debt securities measured at fair value to the amortized cost category, the following guidelines shall be observed for the electronic submission of the RRDS on or before January 29, 2021:

• The prescribed Data Entry Template (DET) and the corresponding Control Prooflist of the RRDS can be downloaded from http://www.bsp.gov.ph/SES/reporting_templates
  
  
• The DET with its corresponding scanned CP in Portable Document Format (PDF) duly signed by the authorized officials 1 of the BSFI shall be electronically transmitted on or before January 29, 2021, to the prescribed e-mail address, DSA-RRDS@bsp.gov.ph, using the required format for the subject, as follows:

"RRDS<space><Name of BSFI>,<space><Reference Period>”, as illustrated below

To         : DSA-RRDS@bsp.gov.ph 

Subject : RRDS<Name of BSFI> , DD MMMM YYYY (e.g. 30 September 2020)

and using the following prescribed file names and file format:

• Only electronic submissions originating from officially registered email address/es of the BSFIs shall be recognized and accepted by the Department of Supervisory Analytics (DSA). The acknowledgment receipt for the submitted RRDS report and its corresponding validation results, upon availability, will be sent to the same registered email address/es.
  
  
• Hard copy submission shall not be accepted. Covered BSFIs that are unable to transmit via email may submit the DET and its accompanying scanned Control Prooflist using any portable storage device (e.g., USB flash drive) through messengerial or postal services within the prescribed deadline addressed to:
  
  

The Director 

Department of Supervisory Analytics (DSA)

Bangko Sentral ng Pilipinas 

11th Floor, Multi-Storey Building BSP Complex, A. Mabini Street, Malate 

1004 Manila

Important Reminder

The following may result in an erroneous or failed submission, among others:

• Failure to use/send the correct/updated templates;
  
  
• Failure to use an officially registered email address;
• Transmitting to the wrong email address;
• Failure to use the prescribed subject line or reporting date;
• Failure to use the prescribed file names;
• Failure to use the correct file formats; and,
• Incomplete entry in the updated templates.

See attached Memorandum 2021-003 for further details.