September 23, 2013
BSP CIRCULAR NO. 812-13
| SUBJECT | : | Submission of Credit Card Business Activity Report (CCBAR) by All BSP Supervised-Financial Institutions (FIs) with Credit Card Operations and their Subsidiary/Affiliate Credit Card Companies |
Pursuant to Monetary Board Resolution No. 1283 dated 01 August 2013, Section X320 and Appendix 6 of the Manual of Regulations for Banks (MORB), and Section 4320Q, Appendix Q-3, and Section 4301N of the Manual of Regulations for Non-Bank Financial Institutions (MORNBFI) are hereby amended.
SECTION 1. Policy Statement. —
The BSP deems it necessary to require submission of the CCBAR in order to enhance BSP's credit card database of both credit card issuers/acquirers and cardholders, ensure transparency and availability of information on credit card operations and complaints resolution, and afford a profound analysis of the credit card industry for policy-making.
SECTION 2. Coverage and Scope. —
All banks and quasi-banks and their subsidiaries/affiliates with credit card exposures (credit card issuances) shall submit the monthly CCBAR containing data on both credit card issuers/acquirers, cardholders, complaints, and card usage location on a quarterly basis. The Report Template is Annex...
