Computation of Average Assessable Assets (AAAs) for Banks
- AAAs is the sum of end-of-month total assessable assets
- Divided by the number of months in operation during the assessment period
Annual Fee Rates for Commercial Banks
- For second semester of 1993: 1/28 of 1% multiplied by AAAs
- For years 1994, 1995, and 1996: 1/28 of 1% multiplied by respective year's AAAs
Collection and Payment of Annual Fees by Banks
- Annual fees debited to banks’ deposits with BSP upon notice from Department of Commercial Banks
- If deposit insufficient, BSP bills the bank for balance
- Bank must remit payment within 30 days of bill receipt
- Failure to pay results in administrative sanctions
Definition of Total Assessable Assets for Thrift Banks
- Same as commercial banks: total assets under Section 28 of R.A. 7653
- Includes end-of-month assets after deductions and Trust Department Accounts
Computation of AAAs for Thrift Banks
- Sum of end-of-month total assessable assets
- Divided by months in operation during assessment period
Annual Fee Rates for Thrift Banks
- For second semester of 1993 and years 1994 to 1996, rate is 1/28 of 1% multiplied by AAAs
- Stock Savings and Loan Associations have fees at 1/20th of 1% or cost of maintenance of BSP supervising department, whichever is lower
Collection and Payment of Annual Fees by Thrift Banks
- Debited to deposits with BSP upon notice from Department of Thrift Banks and Non-Bank Financial Institutions
- Insufficient deposit triggers billing for balance
- Payment due within 30 days from receipt of bill
- Non-payment leads to administrative sanctions
Definition of Total Assessable Assets for Quasi-banks
- Refers to total assets under Section 28 of R.A. 7653
- Calculated on an end-of-quarter basis
- Deducts cash on hand and amounts due from banks including BSP and foreign banks
- Includes Trust Department Accounts
Computation of AAAs for Quasi-banks
- Sum of end-of-quarter total assessable assets
- Divided by number of quarters in operation in the assessment period
Annual Fee Rates for Quasi-banks
- Same formula as banks and thrift banks: 1/28 of 1% multiplied by AAAs for the respective periods from 1993 to 1996
Collection and Payment of Annual Fees by Quasi-banks
- Fees debited to deposits upon notice from Department of Thrift Banks and Non-Bank Financial Institutions
- Insufficient deposits result in billing for remaining balance
- Payment must be remitted within 30 days
- Failure to pay subjects quasi-banks to administrative sanctions
General Provisions
- Annual fees assessed based on average assessable assets for respective operational periods
- Payment mechanisms involve debit to BSP deposits or billing if insufficient funds
- Strict 30-day period for payment to avoid administrative sanctions
- The circular and amendments become effective immediately from August 1, 1996