BSP Memorandum No. 37 (2025)
Guidelines on the Submission of the revised Report on NDF Transactions and the Certification of Compliance with the Requirement on NDF Transactions against the Philippine Peso using Extensible Mark-up Language (XML) Format through Prudential Reporting Inn
BANGKO SENTRAL NG PILIPINAS
OFFICE OF THE DEPUTY GOVERNOR | FINANCIAL SUPERVISION SECTOR
MEMORANDUM NO. M-2025- __037
To : ALL UNIVERSAL/COMMERCIAL BANKS (UBs/KBs) AND
OTHER BSP-SUPERVISED FINANCIAL INSTITUTIONS (BSFIs)
WITH DERIVATIVES LICENSE AUTHORIZED TO ENGAGE IN
NON-DELIVERABLE FORWARD (NDF)
Subject : Guidelines on the Submission of the revised Report on NDF
Transactions and the Certification of Compliance with the
Requirement on NDF Transactions against the Philippine
Peso using Extensible Mark-up Language (XML) Format
through Prudential Reporting Innovation and Monitoring
Engine (PRIME)
Maximizing the use of the Prudential Reporting Innovation and
Monitoring Engine (PRIME), the following guidelines shall be observed
relative to the submission of the revised Report on NDF Transactions and the
Certification of Compliance with the Requirement on NDF Transactions
against the Philippine Peso, as prescribed under BSP Circular No. 1212 dated
Tl April 2025 on the amendments to foreign exchange (FX) regulations
covering FX derivatives, involving the Philippine Peso, and other
transactions:
1. The XMLSchema Definition (XSD), Control Prooflist (CP), and Certification
of Compliance can be downloaded from the Report Details module of
the PRIME under the BSP Relationship Management System (BRMS),
which can be accessed at https://brms.bsp.gov.ph using the latest
version of web browsers.
2. The generated XML, together with the scanned CP, and Certification of
Compliance, duly signed by the authorized officials of the reporting BSFls
shall be submitted within the prescribed deadlines via the PRIME facility
in accordance with the following specifications:
Files for File :
Report Code ° extension/ Deadline
Submission
Format
. 2 banking
NDF Report in XML days after
NDF end of
Control CP in PDF reference
Prooflist period
NDF_CC Details in XML
Certification of
Compliance 15 banking
with the days after
NDF_CC Requirement | Certification in end of
on NDF PDF reference
Transactions quarter
against the
Philippine Peso
3. The revised Report on NDF Transactions is available in the Sandbox
Module of the PRIME under BRMS portal for testing purposes.
4.
The live submission of the revised Report on NDF Transactions and the
Certification of Compliance in PRIME shall start with reference periods
24 November 2025 and 31 December 2025, respectively. Accordingly,
covered BSFIs shall discontinue its submission of the Report on NDF
Transactions through e-mail.
For Covered Banks
5.
Detailed guidelines on the implementation of API-based submission via
machine-to-machine modality and the use of the PRIME Submission
Portal of covered institutions are provided in Memorandum No. M-2023-
022 dated 20 July 2023.
For Covered Non-Bank Financial Institutions (NBFIs)
6.
Covered NBFIs shall accomplish the updated registration form as
prescribed under Memorandum No. M-2017-028 dated 11 September
2017 for NBFIs; and Memorandum No. M-2024-025 dated 07 August 2024
for NBFIs without Quasi-Banking Function; and shall identify a
maximum of two (2) authorized officers who will be registered in PRIME
under the BRMS.
7.
In generating their XML reports, covered NBFIs may use either their own
XML converter facility or BSP XML converter facility, which is made
available in PRIME under the BRMS until otherwise advised.
8.
Covered NBFIs shall submit their generated XML report through
machine-to-machine modality using the NBFIs’ chosen process as
coordinated with the BSP. In case submission via machine-to-machine is
not yet available, covered NBFIs may use the PRIME Submission Portal
under the BRMS until further notice.
Other Submission Guidelines
9.
Report submissions should continue to comply with existing BSP
reporting standards. It likewise follows that only files prescribed by the
BSP for the report shall be accepted, subject to validation and applicable
penalties for reporting violations as provided under Section 171/172-Q and
183-T of the Manual of Regulations for Banks (MORB)/Manual of
Regulations for Non-Bank Financial Institutions (MORNBFI).
10. Queries regarding the revised Report on NDF Transactions and the
Certification of Compliance submission guidelines shall be sent via e-
mail to [email protected] following the prescribed subject format:
[INQUIRY] NDF.
11. This issuance supersedes Memoranda Nos. M-2011-028 and M-2013-018 dated 26 May 2011 and 07 May 2013, respectively. For compliance.
LYN I. JAVIER
Deputy Governor 21 ___ November 2025 Digitally signed by Lyn I. Javier Date: 2025.11.21 14:53:10 +08'00'