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(NAR) VOL. IV NO. 4 / OCTOBER-DECEMBER 1993
[ PDIC REGULATORY ISSUANCE NO. 93-1, November 09, 1993 ]
REPORTORIAL REQUIREMENTS OF THE PHILIPPINE DEPOSIT INSURANCE CORPORATION
Pursuant to Sections 8(8), 9 (c), and 16 (f) of R.A. 3591, as amended, the PDIC Board of Directors, in its resolution No. 93-008-109 dated August 27, 1993, approved a revision in the reportorial requirements from all member banks, including the reduction in both the number of reports to be submitted and in the frequency of report submission to the Corporation. The revised requirements are embodied in the attached Annex A*. Other reportorial requirements of the Corporation nor specifically mentioned in the attached Annex shall remain in effect until superseded by a later regulatory issuance.
In view of the revisions as embodied in Annex A, the Corporation has likewise established measures to ensure the compliance with these requirements through the imposition of fines and penalties to delinquent or erring banks, their directors and/or officers. All member banks shall therefore be guided accordingly.
Definition of Terms
1. Regular PDIC Reports shall refer to all reports of condition and such other reports and statements required of all member banks to be submitted regularly to the Philippine Deposit Insurance Corporation in accordance with the prescribed form, frequency and deadlines set forth in a regulatory issuance.
2. Reports of condition shall refer to balance sheets, income and expense statements and all their supporting schedules, including but not limited to breakdown of deposit liabilities by type and size.
3. Special reports shall refer to reports and statements other than the regular PDIC reports which may be required from time to time to be submitted by banks as deemed necessary by PDIC in the performance of its regulatory authority.
4. Erroneous and misleading information shall refer to mathematical inaccuracies, materials omissions, and/or inconsistencies or discrepancies between the main reports and their supporting schedules/attachments, and which are clearly not merely typographical in nature.
5. Incomplete reports shall refer to those reports without the required supporting schedules/attachments.
6. Willful delay means a deliberate and unjustified failure by a member bank to submit reports and information required by the Corporate despite due demands for submission thereof.
7. Fortuitous events shall refer to events or circumstances entirely beyond the control of the member bank, its director and/or officers, such as fire, natural calamities and public disorder.
8. Banking days shall be understood to mean Monday to Friday but excluding legal holidays or such other days declared by the proper government authority as non-working days.
Fines and Penalties
1. Should a bank fail to submit its reports of condition within five (5) days after the prescribed deadlines; the Corporation shall send the delinquent bank a letter-reminder and simultaneously impose a penalty of One Hundred Pesos (P100) a day. The P100 per day penalty shall continue to be imposed until such time that compliance has been made until the bank, its directors and/or officers have been declared in willful delay in the submission of reports.
Unless the failure to submit a report is due to a fortuitous event, delay shall start to run after the prescribed deadline and shall continue until the report is submitted. However, should the last day of filing fall on a non-banking day, delay shall start to run on the day following the next banking day.
2. Banks failing to submit requirements other than reports of condition after their prescribed deadlines shall be routinely reminded to comply.
3. A bank continuously failing to submit the same reportorial requirement for two consecutive reporting periods shall be sent a final demand letter. The letter shall include a warning that further failure to comply within fifteen days from the bank's receipt of the letter shall constitute willful delay in the submission of reports and which may subject the bank, its directors and/or officers to a fine of not more than P1,000 a day as may be imposed by the Board of Directors.
4. The fine imposed by the PDIC Board of Directors for the willful delay in the submission of reports shall continue to accrue until the bank has complied with the reportorial requirements.
5. Banks submitting erroneous, misleading, or incomplete reports of condition or such other information as may be required by the Corporation may be regarded as not having complied with the reporting requirements and may be subject to the same fines, penalties and sanctions for delay in the submission of reports.
6. If the report submitted is under the signature of an officer who is not duly authorized, PDIC shall consider the report as not having been submitted. If such a report is not re-submitted by the member bank under the signature of a duly authorized signing officer, sanctions/penalties shall be imposed on the erring bank for late reporting or failure to submit the required reports, as the case may be.
7. All payments of penalties and fines by the bank must be made in check payable to the Corporation and shall be sent by personal service or registered mail addressed to the Treasury Department.
8. The imposition of the above penalties shall be without prejudice to the application of such other sanctions as the PDIC Board of Directors may deem appropriate.
To assure the integrity of information, the Corporation shall hold accountable the directors and/or officers of all member banks for the completeness and accuracy of reports being submitted. Consequently, all member banks are to be guided by the following:
1. Reports to PDIC shall be signed by duly designated officers or their alternates. Reports of branches/offices shall be signed by the respective managers/officers-in-charge PDIC shall be formally advised of any changes in the designated officers and alternates and furnished their specimen signatures.
2. For banks that opt to submit reports in computer diskette, the accompanying "control/proof list" of the diskette shall be subject to the same requirements regarding authorized signatories as the report it replaces.
This Regulatory Issuance further requires all member banks to submit to the Corporation not later than 30 calendar days upon receipt a list of authorized signatories to bank reports together with their specimen signatures.
For your guidance and strict compliance.
Adopted: 9 Nov. 1993
(Sgd.) VITALIANO N. NAÑAGAS II
President
* See Appendix V, Revised PDIC Reportorial Requirements
In view of the revisions as embodied in Annex A, the Corporation has likewise established measures to ensure the compliance with these requirements through the imposition of fines and penalties to delinquent or erring banks, their directors and/or officers. All member banks shall therefore be guided accordingly.
1. Regular PDIC Reports shall refer to all reports of condition and such other reports and statements required of all member banks to be submitted regularly to the Philippine Deposit Insurance Corporation in accordance with the prescribed form, frequency and deadlines set forth in a regulatory issuance.
2. Reports of condition shall refer to balance sheets, income and expense statements and all their supporting schedules, including but not limited to breakdown of deposit liabilities by type and size.
3. Special reports shall refer to reports and statements other than the regular PDIC reports which may be required from time to time to be submitted by banks as deemed necessary by PDIC in the performance of its regulatory authority.
4. Erroneous and misleading information shall refer to mathematical inaccuracies, materials omissions, and/or inconsistencies or discrepancies between the main reports and their supporting schedules/attachments, and which are clearly not merely typographical in nature.
5. Incomplete reports shall refer to those reports without the required supporting schedules/attachments.
6. Willful delay means a deliberate and unjustified failure by a member bank to submit reports and information required by the Corporate despite due demands for submission thereof.
7. Fortuitous events shall refer to events or circumstances entirely beyond the control of the member bank, its director and/or officers, such as fire, natural calamities and public disorder.
8. Banking days shall be understood to mean Monday to Friday but excluding legal holidays or such other days declared by the proper government authority as non-working days.
1. Should a bank fail to submit its reports of condition within five (5) days after the prescribed deadlines; the Corporation shall send the delinquent bank a letter-reminder and simultaneously impose a penalty of One Hundred Pesos (P100) a day. The P100 per day penalty shall continue to be imposed until such time that compliance has been made until the bank, its directors and/or officers have been declared in willful delay in the submission of reports.
Unless the failure to submit a report is due to a fortuitous event, delay shall start to run after the prescribed deadline and shall continue until the report is submitted. However, should the last day of filing fall on a non-banking day, delay shall start to run on the day following the next banking day.
2. Banks failing to submit requirements other than reports of condition after their prescribed deadlines shall be routinely reminded to comply.
3. A bank continuously failing to submit the same reportorial requirement for two consecutive reporting periods shall be sent a final demand letter. The letter shall include a warning that further failure to comply within fifteen days from the bank's receipt of the letter shall constitute willful delay in the submission of reports and which may subject the bank, its directors and/or officers to a fine of not more than P1,000 a day as may be imposed by the Board of Directors.
4. The fine imposed by the PDIC Board of Directors for the willful delay in the submission of reports shall continue to accrue until the bank has complied with the reportorial requirements.
5. Banks submitting erroneous, misleading, or incomplete reports of condition or such other information as may be required by the Corporation may be regarded as not having complied with the reporting requirements and may be subject to the same fines, penalties and sanctions for delay in the submission of reports.
6. If the report submitted is under the signature of an officer who is not duly authorized, PDIC shall consider the report as not having been submitted. If such a report is not re-submitted by the member bank under the signature of a duly authorized signing officer, sanctions/penalties shall be imposed on the erring bank for late reporting or failure to submit the required reports, as the case may be.
7. All payments of penalties and fines by the bank must be made in check payable to the Corporation and shall be sent by personal service or registered mail addressed to the Treasury Department.
8. The imposition of the above penalties shall be without prejudice to the application of such other sanctions as the PDIC Board of Directors may deem appropriate.
To assure the integrity of information, the Corporation shall hold accountable the directors and/or officers of all member banks for the completeness and accuracy of reports being submitted. Consequently, all member banks are to be guided by the following:
1. Reports to PDIC shall be signed by duly designated officers or their alternates. Reports of branches/offices shall be signed by the respective managers/officers-in-charge PDIC shall be formally advised of any changes in the designated officers and alternates and furnished their specimen signatures.
2. For banks that opt to submit reports in computer diskette, the accompanying "control/proof list" of the diskette shall be subject to the same requirements regarding authorized signatories as the report it replaces.
This Regulatory Issuance further requires all member banks to submit to the Corporation not later than 30 calendar days upon receipt a list of authorized signatories to bank reports together with their specimen signatures.
For your guidance and strict compliance.
Adopted: 9 Nov. 1993
President
APPENDIX V
ANNEX A
Revised PDIC Reportorial Requirements
Form No. | Description | Old Date of Submission | Revised Date of Submission | |||
SES I Form 2A.1 CBP 7-16-05 SES I Form 2A.2 CBP 7-16-05 | Consolidated Statement of Condition and supporting schedule for commercial banks | 7 banking days after end of reference month | These reports shall be required on a quarterly basis and shall be submitted to the PDIC on or before 20 banking days after the end of the reference quarter | |||
SES I Form 3A CBP 7-16-04 | Consolidated Statement of Income, Expense and Surplus (Free) | 20 banking days after end of calendar quarter/year | ||||
SES II Form 2 | Consolidated Statement of Condition and supporting schedules for thrift banks | For SMBs & PDBs: 7 banking days after end of reference month | ||||
For SLAs: 10 days after end f reference month | ||||||
Schedule II Form 5 | Consolidated Statement of Income, Expense and Surplus | For SMBs & PDBs: 7 banking days after end of calendar quarter/year | ||||
CBP 7-19-04A | Consolidated Statement of Condition and supporting schedules for rural banks | 10th day after end of month | ||||
CBP 7-19-05A | Consolidated Statement of Income, Expense and Surplus | 10th day after end of reference month | ||||
None | Auditor’s report (including any tentative issuances) | Not later than April 15 of each year | ||||
None | Management Reports from both Internal and External Auditors | Not later than 5 banking days subsequent to its submission to the bank’s Board of Directors | ||||
None | Breakdown of all Deposit Liabilities by Type (excluding rural banks without branches) | Not later than the third week following the end of each quarter | This report shall be required on semi-annual basis and shall be submitted to the PDIC on or before 15 banking days after the end of reference semester | |||
Breakdown of all deposit Liabilities by Type (for rural banks without branches) | Not later than the third week following the end of each quarter | Not Required | ||||
CBP 7-16-02 | Statement of Condition by banking unit | 20 banking days after end of calendar quarter/year | Upon specific request | |||
CBP 7-16-04 | Statement of income and expense by banking unit | 20 banking days after end of calendar quarter/year | Upon specific request | |||
CBP 7-16-31 | Sworn Statement on Real Estate Transactions | 10 banking days after approval of transaction | Upon specific request | |||
CBP 7-16-15a | Availments of Financial Assistance Officers and Employees under Central Bank Approved Plan | 15 banking days after end semester | Upon specific request | |||
CBP 7-16-18 | Biographical Data | 25 banking days after end of calendar year | Upon specific request |
* See Appendix V, Revised PDIC Reportorial Requirements