BSP to revise rules for consolidated complaint reports
THE BANGKO SENTRAL ng Pilipinas (BSP) is looking to issue guidelines for its supervised firms’ submission of consolidated complaint reports using a new data entry template, based on a draft circular.
The BSP said in the draft that the revised BSP-supervised institutions consolidated complaints report (BCCR) will be submitted on a quarterly basis.
This will be submitted “using Extensible Mark-up Language (XML) format through the Application Programming Interface (APl), beginning with the reporting period quarter ending March 31, 2024.”
Under the circular, the live submission shall begin on the reporting period for the first and second quarter of 2024.
“Reports will be due for submission within one month from the end of each reference quarter, with the first live submission comprised of two reports for the first two reporting periods,” it added.
Banks must discontinue submitting the BCCR using the old data entry template, the central bank said.
The submission of the BCCR will also be implemented in phases. The first phase will be for banks, the second phase for nonbank e-money issuers, and the third for other BSP-supervised institutions.
Penalties will also be imposed on erroneous, delayed or unsubmitted reports.
The circular also details where the respective templates and other necessary documents can be accessed.
The BSP said it is accepting comments on the draft guidelines until June 17. — L.M.J.C. Jocson
