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January 24, 2013AMLC RESOLUTION NO. 010-13On May 25, 2005, the Council issued Resolution No. 58, which resolved to:i. Defer reporting by covered institutions to AMLC of the following "non-cash, no/low risk" covered transactions:a. Transactions between banks and the BSP;b. Transactions between banks operating in the Philippines;c. Internal operating expenses of the banks;d. Transactions between banks and government agencies; e. Transactions involving transfer of funds from one deposit account to another deposit account of the same person within the same bank;f. Roll-overs of placements of time deposits; andg. Loan interest/principal payment debited against borrower's deposit account maintained with the lending bank.ii. Request the BSP-supervised institutions, through the Association of Bank Compliance Officers (ABCOMP), to determine and report to the AMLC the specific transactions falling within the purview of the aforesaid BSP-identified categories of "non-cash no/low risk" covered transactions.On March 18, 2009, AMLC Resolution No. 58, Series of 2005 was modified by AMLC Resolution No. 24, Series of 2009 where it was resolved that transactions between banks and government agencies shall be excluded from deferred reporting. Thus,...