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Manila Bulletin devider Business devider Banking & Finance devider BSP to widen credit, equity exposure reporting to more financial institutions

BSP to widen credit, equity exposure reporting to more financial institutions

Published Apr 2, 2026 12:00 am

At A Glance

  • The Bangko Sentral ng Pilipinas (BSP) plans to expand its credit and equity exposures report to more financial institutions to strengthen monitoring of emerging risks and credit registry operations in the financial system.

The Bangko Sentral ng Pilipinas (BSP) plans to expand its credit and equity exposures report to more financial institutions to strengthen monitoring of emerging risks and credit registry operations in the financial system.

This expansion, based on the BSP’s draft circular, will include non-stock savings and loan associations (NSSLAs), non-bank credit card companies, government non-bank financial institutions (FIs), non-bank subsidiaries and affiliates of banks and quasi-banks, and other non-bank financial institutions (NBFIs) under BSP supervision that maintain credit and equity exposures.

According to the BSP, the current version of the Enhanced Comprehensive Credit and Equity Exposures Report (COCREE 2.0) covers all banks, non-bank financial institutions with quasi-banking functions, and trust entities.

Once the draft circular is implemented, these covered entities will transition from submitting the Report on Credit and Equity Exposures (CREDEX) to the more granular COCREE 2.0, which is designed to collect detailed information on borrowers and counterparties for all credit and equity exposures of BSP-supervised financial institutions (BSFIs).

There will be a pilot testing phase for COCREE 2.0 to help FIs familiarize themselves with the new granular data reporting requirements.

During this transitory period, the BSP will not impose penalties for reporting violations, allowing firms to adjust their systems without the threat of immediate fines.

Live implementation is scheduled to begin for the reporting period ending Sept. 30, 2026, marking a mandatory shift in how credit and equity exposures are tracked. Covered institutions must submit their first official quarterly reports by Nov. 27, 2026.

Once live implementation commences, the CREDEX reporting requirement will be officially retired to streamline regulatory processes.

While the transition begins in late 2026, strict enforcement of penalties for noncompliance will only occur after a three-period grace period from the start of live operations.

BSFIs are given until April 13 to submit their feedback on the proposed rule.

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