Amendatory Circular
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Date
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Section Amended
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Circular Letter No. CL-2009-071 | 9 November 2009 | Amended Item 3: "Extensions" in Appendix 6 |
Circular Letter No. CL-2010-009
| 5 February 2010 | Amended documentary requirements for investment in PSE-listed securities in Appendices 1 and 10 |
Circular No. 690 | 23 June 2010 | Amended the definition of "Customers" in
Section 89 |
Circular No. 698
| 5 November 2010 | Amended Sections 2 , 3, 13, 29, 40 and 44; Annexes A, B, and C; Appendices 1 and 7 |
Circular No. 724 | 13 June 2011 | Amended definition of Socialized and Low-Cost Housing under the Glossary of Terms |
Circular No. 742 | 21 November 2011 | Amended Sections 6, 9, 13, 22, 23, 24, 25, 28, 34, 35, and 44; Appendices 1, 7, 10, 10.3A, 10.3B, and 20; Annexes B, C, D.1, D.2, E.1, E.2, and F |
Circular No. 743 | 15 December 2011 | Amended Section 36 |
Circular No. 751
| 16 March 2012 | Amended Section 101; Appendices 6.1, 8 and 9 |
Circular No. 794
| 18 April 2013 | Revised/included Sections 2, 3, 4, 18, 22, 24, 29, 31, 32, 33, 35, 36, 37, 40, 41, 42, 44, 76, 91, 92, 101; Appendices 1, 1.1, 2, 3, 3.1, 10, 10.2, 10.3A, 10.3B, 11, 15.1, 18, 19 and 20; and Annexes A, D.2, D.3, E.1, E.2, E.3, E.4, K, O, V, W and X; Included the definitions of “Parent Company” and “Subsidiary” under the Glossary of Terms |
Circular No. 815 | 18 October 2013 | Amended Sections 3, 37 and 101; and Appendices 1, 1.1, 10, 11; Added Appendices 1.2, 11.1A, 11.1B, and Annex Y |
Circular No. 818 | 6 November 2013 | Amended Sections 6, 22, 23, 24, 29, 36; and added/revised Appendices 1, 2, 6.1, 10, 10.1 and 18; and Annexes E.3, N and W |
Circular No. 838 | 20 June 2014 | Amended Section 37, and Appendices 10 and 10.4 |
Circular Letter No. CL-2014-039 | 3 July 2014 | Clarified Section 6 of Circular No. 818 dated 6 November 2013 |
Circular No. 874 | 8 April 2015 | Amended Sections 4, 8, 11, 18, 22, 24, 101; and Appendices 1, 4, 6 and 18; Added Appendix 6.1 and Annexes Z and Z.1 |
Circular Letter No. CL-2015-069
| 5 November 2015 | Clarified the following:
(a) Submission of "Application to Purchase Foreign Exchange" Form;
(b) Retention period for supporting documents covering sale of foreign exchange for payables under intercompany netting arrangements; and
(c) Resident investments in offshore foreign currency denominated mutual funds and unit investment trust funds (UITFs) |
Circular No. 918 | 2 August 2016 | Amended Section 36 and Appendix 10 |
Circular No. 922
| 23 August 2016 | Amended Section 4 |
Circular No. 925
| 13 September 2016 | Added Part One: Rules on Foreign Exchange Transactions consisting of two Chapters (I – General Provisions and II – Resident to Resident Transactions); Amended Sections 2, 3, 6, 9, 22, 23, 24, 27, 28, 29, 30, 36, 40, 44, 73, 91, 101. Adopted definitions for foreign currency loans, non-trade current account transactions and non-trade transactions; Revised Appendices 1, 4 6, 6.1, 7, 18, 20, and Annexes A, D.2, D.3, H and V; Added Consolidated Report on Foreign Currency Loans Granted by Regular Banking Units
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Circular No. 937 | 27 December 2016 | Amended Sections 34, 45, 70, 71 and 97, and Appendices 10 and 19 |
Circular No. 946 | 17 February 2017 | Amended Sections 73 and 75; Replaced Appendix 15.1 (Sworn certificate of Compliance with the FCDU/EFCDU Cover Requirements) with Appendix 15a (for UBs/KBs) and Appendix 15b (for TBs, RBs and Coop Banks). |
Memorandum No. M-2017-023 | 26 July 2017 | Provided clarification on the reporting of foreign exchange transactions under inter-company netting arrangements |
Circular No. 984 | 22 December 2017 | Amended Sections 3, 22, 23, 25, 30 and 31; Deleted Sections 26 to 29; Adopted definitions for foreign exchange, private sector loans/borrowings that are not publicly-guaranteed and publicly-guaranteed private sector loans/borrowings; Revised Appendices 1 and 20, and Annexes A, D.1, D.2, D.3, E.1, E.2 and E.3; Added Appendix 1.3, and Annexes E.4 and E.5. |
Circular No. 996 | 8 February 2018 | Amended Sections 73 and 75; Revised Appendix 15a |
Circular No. 1030 | 5 February 2019
| Amended General Provisions for electronic submission of documents, Sections 3, 22, 24, 25, 30, 31, 32, 33, 34, 35, 36, 37, 38, 41, 42, 43, 44, 88, 90, 91, 101 relating to peso deposit of, and sale of FX to non-residents, foreign/foreign currency loans/borrowings and guarantees, and inward and investments; Deleted Sections 39 and 40; Revised Appendices 1, 1.1, 1.3, 10.1, 10.4, 20 and Annexes A, D.1, D.2.A, D.2.B, E.1, E.2, E.3, G, H, I, J, V, W, X; Added Appendices 1.4, 10.A, 10.B, 10.C, 18.1, 18.2, 21 and Annexes U, AA, AB, AC, AD; Deleted Appendices 10, 10.2, 10.3A, 10.3B, 11, 11.1A, 12, 18 and Annex F.
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| Circular No. 1074 | 7 February 2020 | Amended Sections 84 and 101 relating to submission frequency/deadline of audited financial statements (AFS) of banks |
Circular No. 1086 | 6 May 2020
| Amended Sections 66, 71, 72, 73, 76, 82, 84, 87, 94 and 101 relating to foreign currency deposit system; Revised Appendices 15a, 15b, 16 and 16.1
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| Circular No. 1107 | 23 December 2020 | Amended Section 73 and revised Appendix 15 on foreign currency cover requirements |
| Circular No. 1119 | 7 June 2021 | Amended Section 72 on derivatives regulations |
| Circular No. 1120 | 7 June 2021 | Amended Sections 96, 97, 98, 99, 100 and 101 relating to open foreign exchange position of banks; Revised Appendix 19, Annexes P and Q; Added Appendix 19.1 and Annex Q.1; Deleted Annexes O, P.1, R, R.1, S and S.1 |
| Circular No. 1124 |
10 August 2021 | Amended Part One: Rules on Foreign Exchange Transactions, Sections 2, 3, 5, 6, 8, 9, 10, 11, 12, 13, 14, 18, 19, 21, 22, 24, 25, 30, 36, 38, 43, 45, 52, 53, 88, 90, 99 and 101 relating to peso deposit accounts of non-residents, resident-to-resident transactions, trade and non-trade current account transactions, foreign loans/borrowings/guarantees, foreign investments, derivatives transactions and other amendments; Deleted Sections 7, 15 and 16; Amended definitions of advance payment and affiliate; Adopted definitions for copy, digital payments through e-commerce market participants referred to in Sections 8 and 18, digital signature, e-commerce market participants, electronic signature, export advances, foreign currency loans of the private sector, intercompany netting arrangement, and original; Revised Appendices 1, 1.1, 1.3, 1.4, 4, 10.A, 10.B, 10.C, 10.1, 10.2, 18, 19, 20, and Annexes A, C, D.1, D.2A, D.2.B, E.3, G, W; Added Appendix 1.5 and Annexes B.1 and B.2; Deleted Appendices 1.2, 2, 3, 5, 6, 6.1, 7, 8, 9, 18.1, 18.2, and Annex B
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| Circular No. 1134 |
28 December 2021 | Amended Sections 71, 72, 73, 82, 84 and 101 relating to foreign currency deposit system; Deleted Appendices 13 and 14 |
| Circular No. 1146 | 26 May 2022 | Amended Section 4 on cross-border transfer of local and foreign currencies; Revised Annex K |
| Circular No. 1154 | 14 September 2022 | Amended Section 101 on reportorial requirements |
Circular No. 1171
| 29 March 2023
| Amended Part One: Rules on Foreign Exchange Transactions, Sections 3, 22, 23, 24, 36, 101 and 102 relating to peso deposit accounts of non-residents, foreign loans/borrowings, foreign investments, reportorial requirements and procedures for reporting; Revised Appendices 1, 1.3, 1.4, 1.5, 5, 10.1, 10.A, 10.B, 10.C, and Annexes D.1, D.2.A, D.2.B, E.3, I, W, X, Y; Deleted Appendix 20
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Circular No. 1192
| 11 April 2024 | Amended Part One: Rules on Foreign Exchange Transactions, Sections 2, 3, 9, 23, 32, 33, 35, 36, 37, 38, 101 and 104 relating to trade and non-trade current account transactions, foreign loans/borrowings, foreign investments, reportorial requirements and procedures for reporting; Revised Appendices 1, 1.1, 1.4, 1.5, 10.A, 10.B, 10.C, 10.3A, 10.3B, 10.4, 11.1B, 18 and Annexes N, R, S, AB, AD; Deleted Appendix 10.2 and Annex AC
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| Circular No. 1197 | 12 July 2024 | Amended Sections 52, 72, 73, 87, 94, 98, 101, 102, 103, 104 and 106 relating to offshore banking units of foreign banks, foreign currency deposit system, and reporting guidelines and penalty provisions; Revised Appendices 10.1, 15, 15a, 16, 19, 19.1, 21, and Annexes B.1, B.2, C, D.1, D.2.A, D.2.B, D.3, E.1, E.2, E.3, E.4, E.5, G, J, L, M, N, P, Q and Q.1, R, S, T, V, W, X, Y, Z, Z.1, AA, AB, AD; Deleted Appendix 15.1; Added Appendices 22, 23 and 24 |
Circular No. 1212
| 11 April 2025 | Amended Part One: Rules on Foreign Exchange Transactions, Sections 36, 88, 89, 90, 91, 93, 94, 95, 107 relating to inward investments and foreign exchange derivatives transactions; Revised Appendices 10.A, 18, 18.1, 22, and Annexes A, L; Deleted Annexes M, W; Added Form W
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