Regulatory Alerts2024-07-11
CL-2024-037: Publication/Posting of Statement of Condition and/or Consolidated Statement of Condition
The Office of the Deputy Governor for Financial Supervision Sector issued Circular Letter CL-2024-037 requiring all Non-Bank Financial Institutions with quasi-banking functions and trust entities to publish their Statement of Condition alongside the Consolidated Statement of Condition as of 30 June 2024. Institutions must publish these statements in a newspaper of general circulation within twenty working days of the circular's date, or in Metro Manila if no local newspaper exists. Additionally, scanned PDF copies of the published statements and publisher certificates must be submitted to fssmail@bsp.gov.ph within twenty working days and within five working days after publication, respectively.
Classification: GENERAL Page
OFFICE OF THE DEPUTY GOVERNOR I FINANCIAL SUPERVISION SECTOR CIRCULAR LETTER NO. CL-2024-__ To : All Non-Bank Financial Institutions with Quasi-Banking Functions and/or Trust Entity Subject : Publication/Posting of Statement of Condition and/or Consolidated Statement of Condition Pursuant to Section 61 of Republic Act No. 8791, a call is hereby made for the publication by your institution of its Statement of Condition (Head Office, branches and other offices) side-by-side with its Consolidated Statement of Condition (parent institution and its subsidiaries and affiliates), if applicable, as of 30 June 2024, in accordance with Sections 172-Q and 144-N of the Manual of Regulations for Non-Bank Financial Institutions (MORNBFI) for quasi-banks and trust entities, respectively. Such Statement of Condition and/or Consolidated Statement of Condition, where applicable, shall be published in a newspaper of general circulation in the city/province where the principal office is located, but if no newspaper is published in the same city/province, then in a newspaper published in Metro Manila or in the nearest city/province within twenty (20) working days from the date of this Circular Letter. The original and a copy of the Statement of Condition and/or Consolidated Statement of Condition, where applicable, shall be scanned and submitted in pdf format within twenty (20) working days from the date of this Circular Letter at fssmail@bsp.gov.ph in accordance with Memorandum No. M-2021-036 dated 28 June 2021. Copies of the Statement of Condition and/or Consolidated Statement of Condition, where applicable, as published, together with the publisher’s certificate shall also be scanned and submitted in pdf format at fssmail@bsp.gov.ph within five (5) working days from the date of publication.
CHUCHI G. FONACIER Deputy Governor 11 July 2024