BSP gives small banks relief on new credit exposure reporting rules

MANILA, Philippines — The Bangko Sentral ng Pilipinas is giving rural and cooperative banks more time to adjust to a new reporting system for their credit and equity exposures, offering temporary relief from penalties and longer grace periods for lenders that complied early during the maiden submission period. In a memorandum dated May 14, the central bank said all rural and cooperative banks will be granted a grace period from penalties for reporting violations during the first live submission period of the Enhanced Comprehensive Credit and Equity Exposures Report, or Cocree 2.0.  The maiden reporting period covers small banks’ exposure […]... Keep on reading: BSP gives small banks relief on new credit exposure reporting rules

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