Regulatory Alerts2024-06-13
Updated Schedule of the Enhanced Comprehensive Credit and Equity Exposures Report (COCREE) of 2023
The Bangko Sentral ng Pilipinas issued Memorandum No. M-2024-018 to reschedule the live implementation of the enhanced COCREE 2.0 reporting framework for supervised financial institutions. The new mandatory reporting period begins on 30 September 2024, requiring monthly submissions by universal and commercial banks, thrift banks, digital banks, and trust corporations. During the preceding pilot phase, institutions may test the system using data from periods after 30 September 2023, while penalties for reporting violations will only be enforced after a three-month grace period following the start of live implementation.
Share