Accounting Alerts

Supplemental Report to the Financial Reporting Package on Modified and Restructured Loans of BSP-Supervised Financial Institutions

This Accounting Alert is issued to circulate Bangko Sentral ng Pilipinas (BSP) Memorandum No. M-2022-001 dated January 11, 2022 on the submission of a supplemental report to the FRP by BSP-supervised financial institutions (BSFIs) to cover details of modified and restructured loans.

Summary

The BSP Monetary Board approved the submission of a supplemental report to the FRP by BSFIs to cover details of modified and restructured loans, following the issuance of BSP Memorandum No. M-2021-056 dated 21 October 2021.

The supplemental report to the FRP shall be considered a Category A-1 primary report and shall be submitted on both solo and consolidated bases. The first submission of the supplemental report shall cover the reporting periods as follows:

(i) as of September 30, 2021, to establish baseline information on modified and restructured loans before applying the provisions of BSP Memorandum No. M-2021-056; and, 

(ii) as of December 31, 2021.

The submission of the supplement report to the FRP shall be subject to the provisions of Section 171/172-Q, Sanctions on reports for non-compliance with the reporting standards, of the Manual of Regulations for Banks/Non-Bank Financial Institutions.  The Memorandum further enumerates other information required to be disclosed in the supplemental report.

Timeline

The supplemental report shall be submitted electronically to the Department of Supervisory Analytics (DSA) following the submission timeline below:

The BSP, through the DSA, will issue a separate memorandum covering the specific guidelines on the mode and manner of the electronic submission of the supplemental report to the FRP on modified and restructured loans.



See attached BSP Memorandum No. M-2022-001 for further details.