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(NAR) VOL. 19 NO. 2 / APRIL - JUNE 2008
[ BSP MEMORANDUM NO. M-2008-019, May 03, 2008 ]
GUIDELINES ON THE SUBMISSION OF THE REPORT ON NON-DELIVERABLE FORWARD (NDF) TRANSACTIONS WITH NON-RESIDENTS
Further to BSP Memorandum No. M-2008-009 dated 27 February 2008 and Circular No. 594 dated 8 January 2008, the following shall be observed relative to the submission of the report on NDF transactions with non-residents:
1. Effective for the week ending 23 May 2008, all banks and trust entities authorized to engage in NDF transactions with non-residents shall submit to the BSP Supervisory Data Center (SDC) a weekly NDF report using the attached prescribed excel format (Annex A*).
2. The NDF report shall be electronically submitted to SDC at e-mail address sdc-ndf(@)bsp.qov.ph, copy furnished to the BSP Treasury Department at e-mail address fx-omo@bsp.gov.ph, by the 2nd banking day of the week succeeding reference cut-off date.
3. A Control Prooflist (Annex B*) duly signed by the authorized official of the reporting institution and a Notary Public shall be transmitted within the prescribed deadline to BSP-SDC via facsimile at (632)523-3461 or 523-0230.
4. Late and/or erroneous reporting shall be subject to penalty as provided under Circular No. 594.
For compliance.
Adopted; 03 May 2008
(SGD.) NESTOR A. ESPENILLA, JR.
Deputy Governor
*Text Available at Office of the National Administrative Register, U.P. Law Complex, Diliman, Quezon City.
1. Effective for the week ending 23 May 2008, all banks and trust entities authorized to engage in NDF transactions with non-residents shall submit to the BSP Supervisory Data Center (SDC) a weekly NDF report using the attached prescribed excel format (Annex A*).
2. The NDF report shall be electronically submitted to SDC at e-mail address sdc-ndf(@)bsp.qov.ph, copy furnished to the BSP Treasury Department at e-mail address fx-omo@bsp.gov.ph, by the 2nd banking day of the week succeeding reference cut-off date.
3. A Control Prooflist (Annex B*) duly signed by the authorized official of the reporting institution and a Notary Public shall be transmitted within the prescribed deadline to BSP-SDC via facsimile at (632)523-3461 or 523-0230.
4. Late and/or erroneous reporting shall be subject to penalty as provided under Circular No. 594.
For compliance.
Adopted; 03 May 2008
Deputy Governor
*Text Available at Office of the National Administrative Register, U.P. Law Complex, Diliman, Quezon City.