Question & AnswerQ&A (MEMORANDUM NO. M-2015-040)
The Report of Examination (ROE) is a confidential document that is the property of the BSP and is furnished to Bangko Sentral-regulated Banks and Financial Institutions (BSFIs) for their use only.
No, BSFIs, their directors, and officers are prohibited from disclosing or making public the ROE and its contents, except under very limited circumstances and only with prior written consent of the BSP.
Disclosure is allowed: 1) To a financial consultant, due diligence team head, and potential business partners with written consent of the Deputy Governor of the Supervision and Examination Sector; 2) To third parties (other than those mentioned in item 1) only upon approval of the Monetary Board or the Governor.
Yes, BSFIs can allow external auditors read-only access to the ROE without prior BSP consent, provided the auditors include a confidentiality provision in their audit engagement letters regarding the ROE's contents.
Yes, BSFIs are authorized to disclose their most recent CAMELS ratings to National Government Agencies (NGAs), Government-Owned or -Controlled Corporations (GOCCs), and Local Government Units (LGUs) through certification, if the disclosure is requested for compliance with government requirements.
They must submit to the BSP and the BSFIs: (i) a certification on the CAMELS rating, and (ii) an authorization in favor of the government agencies to validate the certification with the BSP.
The ROE is the property of the Bangko Sentral ng Pilipinas.
External auditors are given read-only access to the ROE, without prior BSP consent, subject to confidentiality conditions.
The Deputy Governor grants written consent for the disclosure of the ROE to financial consultants, due diligence team heads, and potential business partners.
The Monetary Board or the Governor can approve disclosure to third parties other than those specified for Deputy Governor consent.