The Monetary Board, in its Resolution No. 598 dated 5 May 2005, decided to amend the deadline for submission to the Bangko Sentral ng Pilipinas of the Report on Crimes and Losses involving bank personnel from five (5) banking days after initiation of judicial action or extra-judicial action or after imposition of administrative sanction, whichever is earlier, to five (5) banking days from knowledge of crime/incident.

The deadline for submission of the Report on Crimes and Losses under Appendix 6 (Reports Required of Banks) of the Manual of Regulations for Banks (MORB) shall be amended accordingly (Annex A^* ).

This Circular shall take effect fifteen (15) days following its publication in the Official Gazette or in a newspaper of general circulation.

Adopted: 01 June 2005

(SGD.) AMANDO M. TETANGCO, JR.
Officer-in-Charge

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^* Text Available at Office of the National Administrative Register, U.P. Law Complex, Diliman, Quezon City.