Reportorial Requirements on Personal Equity and Retirement Account (PERA)

May 22, 2015

BSP CIRCULAR NO. 880-15

SUBJECT : Reportorial Requirements on Personal Equity and Retirement Account (PERA)

The Monetary Board in its Resolution No. 509 dated 27 March 2015 approved the amendments to Section 4192Q/4162N of the Manual of Regulations for Non-Bank Financial Institutions (MORNBFI); Subsection X191.2 of the Manual of Regulations for Banks (MORB); and Subsection X425.2/4425Q.2 and Appendix 6/Q-3 and N-1 of the MORB/MORNBFI, respectively, relative to the implementation of PERA Act of 2008 and PERA Rules.

BSP-supervised financial institutions engaging in PERA-related activities shall include in their periodic reports to BSP the results of their PERA operations. Amendments to the Financial Reporting Package for Banks (FRP), Simplified Financial Reporting Package for Rural and Cooperative Banks (SFRP), Financial Reporting Package for Trust Institutions (FRPTI), and Consolidated Statement of Condition (CSOC) for Quasi-Banks/Non-Bank Financial Institutions will ensure proper reporting of PERA-related activities and reflect proper segregation of PERA assets.

SECTION 1. The Financial Reporting Package (FRP) prescribed under Subsection X191.2 of the MORB is hereby amended to revise the (a) Contingent Accounts, (b) Line Item Instructions, and...

AIC Grande Tower Garnet Road
Ortigas Center, Pasig City
Metro Manila Philippines

Mobile No. +639451244898
digestph@gmail.com
Please read our FAQ before contacting us.