BSP defers rollout of bank reporting package
The Bangko Sentral ng Pilipinas (BSP) has pushed back the implementation of its enhanced financial reporting package (FRP), citing the need to give banks more time to upgrade their systems and processes and train personnel.
Under Memorandum No. M-2026-028 dated June 23, the live submission of FRP Version 16—initially set to take effect for reporting periods ending June 30, 2026—will now be deferred to the period ending June 30, 2027.
“This aims to provide banks additional time to prepare their people, processes, and systems for the updated report version,” the BSP memo noted.
The FRP is a set of prudential financial statements composed of the balance sheet, income statement and supporting schedules.
It is designed to align the central bank’s reporting requirements with Philippine Financial Reporting Standards, Philippine Accounting Standards and the Basel capital adequacy framework. It also supports BSP statistical requirements.
The package is prepared on both a solo and consolidated basis.
Solo reports cover the head office and branches, while consolidated reports combine the parent bank and its subsidiaries on a line-by-line basis. Only banks with financial allied subsidiaries—excluding insurance units—are required to submit consolidated reports.
The BSP had earlier said that upon full implementation of FRP Version 16, banks would discontinue separate submissions of the intraday liquidity report and large exposures report.
However, under the new memo, those separate submissions will continue until the new reporting package takes effect.
