Purpose: monitoring exporter loan repayments
- BSP requires inclusion of specific accounts in the “CODES FOR INVISIBLE ACQUISITIONS” and “CODES FOR INVISIBLE DISPOSITIONS” for Schedules 4 and 8 of IOS Form 1.
- BSP mandates these account codes to enable effective monitoring of repayment of FCDU loans to exporters.
Required IOS Form 1 coding
- For invisible acquisitions under Schedule 4, BSP requires the following account codes:
- Code A1.4.09.0 — Intermediaries Income on FCDU Loans to Exporters
- Code A1.7.31.0 — Settlement of Principal - FCDU Loans to Exporters
- For invisible dispositions under Schedule 8, BSP requires the following account codes:
- Code D1.4.09.0 — Interest payments on FCDU Loans to Exporters
- Code D1.7.24.0 — Settlement of Principal - FCDU Loans to Exporters
Implementation instruction and responsible compliance
- BSP instructs that the required codes must be included in the “CODES FOR INVISIBLE ACQUISITIONS” and “CODES FOR INVISIBLE DISPOSITIONS” entries of IOS Form 1.
- The reporting must follow the specified schedule assignments: Schedules 4 for acquisitions and 8 for dispositions.
- Entities using IOS Form 1 must apply these codes in their schedules to reflect the designated components of FCDU loan repayment (principal and interest).