Frequently Asked Questions (FAQs) on the Financial Reporting Package (FRP)

December 27, 2007BSP MEMORANDUM NO. M-2007-044TO:All Banks   SUBJECT:Frequently Asked Questions (FAQs) on the Financial Reporting Package (FRP) In view of the live implementation of the Financial Reporting Package issued under Circular No. 512 dated 3 February 2006, as amended, the following additional guidance in the preparation of the report are issued: CaEATIFRP GENERAL STRUCTURE AND SUBMISSION1. Will the other BSP reports such as but not limited to SME, Agri-agra and CAR continue to be submitted upon the live implementation of the FRP? Yes, banks will be advised later on as to which reports shall be dropped.2. If a bank opts to submit its FRP electronically, will it still be required to transmit a hard copy of the report? No. But the bank is required to submit to the BSP within the prescribed submission deadline, the duly notarized control prooflist of the FRP signed by an authorized signatory.3. What format should we use in submitting the FRP templates? The FRP may be submitted in either the dbf or the excel format but not a combination of...