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Advisory on the new name and coverage of the report on Loans Outstanding of Universal and Commercial Banks

06.23.2014

The BSP will be adopting a new name and coverage for the report on “Loans Outstanding of Universal and Commercial Banks” beginning with the report covering June 2014 data.  Said report will be renamed “Outstanding Loans for Production and Household Consumption: Universal and Commercial Banks”.

Loans outstanding refers to the unpaid balance of loans granted by universal and commercial banks. The report distinguishes between loans extended by banks to resident borrowers for production purposes and those for household consumption. Loans for production refers to a borrowing related to an economic activity that is carried out by a business enterprise or other entities. These loans are classified by industry, based on the latest Philippine Standard Industrial Classification (PSIC) 2009, consistent with Memorandum No. M-2014-009, dated 7 March 2014 on the Enhancement to the Financial Reporting Package of Banks relative to the Adoption of the 2009 PSIC. Meanwhile, household consumption refers to the expenditures of individuals on goods and services for household needs. This covers loans for the purchase of food, education, household appliances and family cars, among others. However, this excludes expenditures on real estate or dwelling units which are considered as production activities  since owner-occupied dwellings are considered as capital formation of households producing household services. Thus, for purposes of this report, residential real estate loans are reported as part of loans for production.

Information on loans other than for production and household consumption (e.g. interbank loans, loans and receivables arising from repurchase, certificates of assignment without recourse and securities lending and borrowing transactions) and loans of domestic banks’ foreign offices are indicated in the report as memo items.  Please see new table format (Annex A).”

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