Circular No. 1190: Revised Guidelines in the Computation of Annual Supervision Fee under Section 28 of R.A. No. 7653 as Amended by R.A. No. 11211

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OFFICE OF THE GOVERNOR CIRCULAR NO. ___ Series of 2024 Subject: Revised Guidelines in the Computation of Annual Supervision Fee under Section 28 of the Republic Act (R.A.) No. 7653 or “The New Central Bank Act” as Amended by R.A. No. 11211 The Monetary Board, in its Resolution No. 253 dated 29 February 2024 approved the amendments to the Manual of Regulations for Banks (MORB) and Manual of Regulations for Non-Bank Financial Institutions (MORNBFI) revising the computation of Annual Supervisory Fees (ASF) of BSP Supervised Financial Institutions (BSFIs) under Section 28 of Republic Act (R.A.) No. 7653 as amended by R.A. No. 11211 or “The New Central Bank Act”. Section 1. Sec. 1101 of the MORB is hereby amended to read as follows: xxx Annual fees on banks. Pursuant to Section 28 of Republic Act (R.A.) No. 7653, “The New Central Bank Act” as amended by R.A. No. 11211, BSFIs shall pay to the Bangko Sentral not later than May 31 of each year, an annual supervision fee as may be determined by the Monetary Board. For this purpose, the annual supervision fee shall be computed based on the bank’s “Total Assessable Assets”, which shall refer to total assets (end- of-month total assets per balance sheet, after deducting cash on hand, amounts due from banks, including the Bangko Sentral and banks abroad, and investment in national government (NG) securities), plus assets under management of the Trust Department of a bank. xxx Section 2. Sec. 1101-Q of the MORNBFI likewise, is hereby amended to read as follows: xxx Pursuant to Section 28 of Republic Act (R.A.) No. 7653 “The New Central Bank Act” as amended by R.A. No. 11211, BSFIs shall pay to the Bangko Sentral not later than May 31 of each year, an annual supervision fee as may be determined by the Monetary Board. For this purpose, the annual supervision fee shall be computed based on the QB’s “Total Assessable Assets”, which shall refer to total assets (end-of-quarter total assets per balance sheet, after deducting cash on hand, amounts due from banks, including the Bangko Sentral and banks abroad, and investment in national government (NG) securities), plus assets under management of the Trust Department of a non￾bank with quasi-banking license. xxx Page 1 of 2

Page 2 of 2 Section 3. This Circular shall take effect immediately upon its publication either in the Official Gazette or in a newspaper of general circulation. FOR THE MONETARY BOARD:

ELI M. REMOLONA, JR. Governor ___ March 2024 12