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BSP Issues Reminder About Submission of 2017 Foreign Borrowings Plan

09.26.2016

In line with the responsibility of the Bangko Sentral ng Pilipinas (BSP) to monitor capital flows and analyze their implications on the economy, an annual survey is conducted to get an indication of the magnitude and timing of the economy's financing requirements for the following year, as well as the purpose of such borrowings, among others.  Resident entities intending to borrow from offshore sources (such as banks, foreign parent companies/affiliates/shareholders, including offshore issuances of bonds/notes) are required to submit their foreign borrowings plan for 2017 to the BSP, through the International Operations Department, not later than 30 September 2016.  Planned foreign currency borrowings from banks operating in the Philippines are also requested to be included in the report.

For the public sector, all such contemplated borrowings must be included in the response.  In the case of the private sector, the plan must be submitted if estimated borrowings for the following year will total at least US$10 million or its equivalent in other foreign currencies.  For smaller amounts, the BSP likewise encourages prospective private sector borrowers to submit such plans for a more comprehensive data coverage of the survey.

All reported data are covered by strict confidentiality rules and used for the BSP's internal purposes only.  The BSP, therefore, enjoins the cooperation of all concerned.

The standard reporting forms may be downloaded from the BSP website at http://www.bsp.gov.ph/regulations/reg_others.asp

 

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