AMENDMENTS TO THE FINANCIAL REPORTING PACKAGE FOR TRUST INSTITUTIONS
approved the amendments to the Financial Reporting Package for Trust
Institutions (FRPTI) issued under Circular No. 609 dated 26 May 2008
attached as Annex A[*]; the salient features of which are as follows:
(a) Refinement of the manual of accounts and line item instructions;
(b) Revision of the additional information sections; and
(c) Blocking and unblocking of the cells in the reporting template.
Accordingly, the live implementation of the FRPTI shall take effect
starting with the quarter-end March 2009 report. The parallel run, on
the other hand, shall be extended up to quarter-end December 2008
report. During the parallel run period, the FRPTI shall be submitted
within the following prescribed deadlines:
| Reporting Period | Submission Deadline |
| 30 September 2008 | 7 February 2009 |
| 31 December 2008 | 6 March 2009 |
Unless otherwise advised, trust institutions shall continue to submit
the existing Report on Trust and Other Fiduciary Business and
Investment Management Activities or the Report on Investment Management
Activities, as the case may be, and their supporting schedules in
accordance with the existing manner and frequency of submission.
Existing penalties for late and/or erroneous submission of said report
shall continue to apply.
Trust institutions that shall opt for an early live adoption of the
FRPTI shall be allowed starting with the quarter-end December 2008
report: Provided, That they shall submit the said report to the BSP
within 20 banking days after the end of the reference quarter: Provided,
further, That penalties for late and/or erroneous submission of the
FRPTI shall already apply starting with said reference quarter. Trust
institutions that shall opt for an early adoption of the FRPTI shall no
longer be required to submit the Report on Trust and Other Fiduciary
Business and Investment Management Activities or the Report on
Investment Management Activities and their supporting schedules starting
with the quarter-end December 2008 report.
Trust institutions may access the FRPTI revised reporting template at the BSP website (http://www.bsp.gov.ph/frp/templates ).
This Circular shall take effect fifteen (15) calendar days following
its publication either in the Official Gazette or in a newspaper of
general circulation.
Adopted: 22 Jan. 2009
FOR THE MONETARY BOARD:
(SGD.) ARMANDO L. SURATOS
Officer In-Charge
[*] Text Available at Office of the National Administrative Register, U. P. Law Complex, Diliman, Quezon City