Permitted Circumstances for Disclosure
- Directors or officers of BSFIs may disclose the ROE content under the following conditions:
- To financial consultants, heads of due diligence teams, or potential business partners with prior written consent from the BSP's Deputy Governor of the Supervision and Examination Sector.
- To other third parties, only with approval from the Monetary Board or the Governor of the BSP.
Access Rights of External Auditors
- BSFIs may allow their external auditors (EAs) to access the ROE on a read-only basis without prior BSP approval.
- External auditors must include confidentiality clauses regarding the ROE in their audit engagement letters.
- This ensures appropriate protection and confidentiality of the ROE content during audits.
Disclosure of CAMELS Ratings to Government Entities
- BSFIs are authorized, without prior BSP consent, to disclose their most recent CAMELS ratings to:
- National Government Agencies (NGAs)
- Government-Owned or -Controlled Corporations (GOCCs)
- Local Government Units (LGUs)
- Such disclosures must be made via certification and only if requested for compliance with other government agency requirements.
- The requesting government entity can validate the disclosed CAMELS rating with the BSP by submitting:
- A certification of the CAMELS rating.
- An authorization allowing BSP to verify the certification.
Implementation and Compliance
- BSFIs and relevant stakeholders are directed to adhere strictly to these confidentiality rules.
- Immediate and consistent implementation of these provisions is mandated by the BSP.
- This memorandum serves as the official guidance to ensure protection of sensitive examination reports and regulatory information.