Regulatory Alerts2024-10-21
M-2024-033: Information Sharing of Bank Reports with the Philippine Deposit Insurance Corporation (PDIC)
The Bangko Sentral ng Pilipinas issued this memorandum to operationalize a revised Memorandum of Agreement with the Philippine Deposit Insurance Corporation for the exchange of bank reports. The directive mandates the quarterly and annual sharing of specific prudential financial and non-financial reports, including Financial Reporting Packages and Risk-Based Capital Adequacy Ratio reports, as detailed in Annex A. This information sharing framework aims to enhance the operational effectiveness of both regulators while ensuring strict adherence to data privacy principles of transparency, legitimate purpose, and proportionality.
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