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Adopted: 10 July 2015
Date Filed: 27 July 2015
The Monetary Board, in its Resolution No. 944 dated 11 June 2015, approved the amendments to pertinent regulations on Motor Vehicle Loans.

Section 1. The Financial Reporting Package, prescribed under Subsection X191.2 of the MORB is further amended to revise the: (a) Manual of Accounts (MOA) to include the definition of Motor Vehicle Loans; and (b) reporting templates of specific Financial Reporting Package for Banks (FRP) and Simplified Financial Reporting Package for Rural and cooperative Banks (SFRP) as follows:

(a)	Manual of Accounts
	“xxx
	“11.	Loans and Receivables – xxx
	“(a)	Loans to Bangko Sentral ng Pilipinas – xxx
	“(b)	xxx
	“(c)	Loans and Receivables-Others – xxx
		“(c.1)	xxx
		“xxx
		“(c.8)	Loans to Individuals Primarily for Personal Use Purposes - This refers to the amortized cost of loans granted to individuals for personal use purposes.
			(c.8a)	Credit Card – xxx
			(c.8b)	Motor Vehicle Loans - This refers to the amortized cost of loans granted to individuals for the acquisition of motorized land transportation vehicles primarily for personal use. The loan may be considered secured if the motor vehicle purchased using the loan proceeds satisfies the full requirements of eligible chattel mortgage that is registered with both Registry of Deeds and LTO.
				(c.8b.1)	Auto Loans - This refers to loans granted to individuals for the acquisition of automobiles primarily for personal use.
				(c.8b.1)	Motorcycle Loans - This refers to loans granted to individuals for the acquisition of motorcycles primarily for personal use.
				(c.8c)	Salary Loans – xxx
				(c.8d)	Others - This refers to the amortized cost of loans granted to individuals to finance other personal and household needs such as purchase of household appliances, furniture and fixtures and/or to pay taxes, hospital and educational bills.”
				“ xxx”
(b)	Reporting Template
	The following reporting templates of FRP, attached as Annex A-1, are revised to show a line for Motor Vehicle Loans and the sub-accounts Auto Loans and Motorcycle Loans under the category of Loans to Individuals Primarily for Personal Use Purposes:
	11 11a 11a1 11a2 11a3 11a4 11b 11b1 11b2 11b3 11b4 11c 11c1 11c2 11c3 11c4 11d 11d1 11d2 11d3 11d4 11e 11e1 11e2 11e3 11e4 11h1 11h2 29d 29d1 29d2 29d3 29d4 33

Similarly, the reporting templates of simplified FRP for Rural and Cooperative Banks, attached as Annex A-2, were revised for schedules 11, 11a1 to 11e1, 11h1, 11h2, 29d1 and 33

Moreover, Section 4162S of the MORNBFI is also amended to revise the reporting templates of the (a) Consolidated Statement of Condition (CSOC) of NSSLAs to show a line for each of the Motor vehicle Loans account (classified under Loans and Discounts) and its sub-accounts Auto Loans and Motorcycle Loans, and (b) the CSIE of NSSLAs to show a line for each of the Interests/Discounts Earned - Motor Vehicle Loans account (classified under Interests/Discounts Earned) Interest/Discounts Earned - Auto Loans and Interest/Discounts Earned - Motorcycle Loans. The revised reporting templates are attached as Annex B.

Furthermore, Appendix N-1 in the MORNBFI is also amended to revise the report titled “Schedule of Loans/Receivables and Trading Account Securities – Loans” to show a line for each of the outstanding balances of Motor Vehicle Loans (classified under Loans and Discounts) and its sub-accounts Auto Loans and Motorcycle Loans. There will also be an “of which” line under the past Due category for each of the sub-accounts Auto Loans and Motorcycle Loans. The revised reporting template is attached as Annex C.

Banks, NSSLAs and Financing companies shall adopt the said revised reporting templates effective report ending 30 June 2015.

Section 3. This Circular shall take effect fifteen (15) calendar days following its publication either in the Official Gazette or in a newspaper of general circulation.

FOR THE MONETARY BOARD:

(SGD) AMANDO M. TETANGCO, JR.
Governor