Governance and Regulation

Bangko Sentral Pilipinas (BSP)

1. Updated Manual of Regulations for Banks and Non-Bank Financial Institutions as of 31

December 2019

➢ Circular no. 1143

➢ April 12, 2022

➢ https://www.bsp.gov.ph/Regulations/Issuances/2022/1143.pdf

Insurance Commission (IC)

1. Transitional Financial Reporting Framework for Insurance and Professional Reinsurance

Companies

➢ Circular Letter 2022-29

➢ June 21, 2022

➢ https://www.insurance.gov.ph/circular-letter-2022-29-transitional-financial-reporting-

framework-for-insurance-and-professional-reinsurance-companies/

2. Extension of Period for the Submission of the Annual Corporate Governance Report

(ACGR) under Circular Letter no. 2020-72

➢ Circular Letter 2022-28

➢ June 16, 2022

➢ https://www.insurance.gov.ph/circular-letter-2022-28-extension-of-period-for-the-

submission-of-the-annual-corporate-governance-report-acgr-under-circular-letter-no-

2020-72/

3. New Financial Reporting Framework (FRF) for MBAs

➢ Circular Letter 2022-24

➢ May 19, 2022

➢ https://www.insurance.gov.ph/circular-letter-2022-24-new-financial-reporting-

framework-frf-for-mbas/

4. Amendment to the Transitory Provisions Under Circular Letter No. 2020-100 on

"Implementation Requirements for Circular Letter No. 2020-22 Valuation Standards for

Health Maintenance Organizations (HMO) and Quarterly and Annual Reporting for HMOs"

➢ Circular Letter 2022-20

➢ April 11, 2022

➢ https://www.insurance.gov.ph/circular-letter-2022-20-amendment-to-the-transitory-

provisions-under-circular-letter-no-2020-100-on-implementation-requirements-for-

circular-letter-no-2020-22-valuation-standards-for-health-mai/