The Central Bank of the Philippines issued guidelines requiring all banks and non-banks with quasi-banking functions to file the Demand Deposit Account (DDA) Reconciliation Statement in Extensible Mark-up Language (XML) via the Prudential Reporting Innovation and Monitoring Engine (PRIME), under the reporting framework in the Manual of Regulations for Banks and the Manual of Regulations for Non-Bank Financial Institutions. Firms must submit the generated XML file together with a scanned Control Prooflist (PDF) signed by authorised officials, using the relevant XML Schema Definition, control prooflist, and report template available through the Report Details module in PRIME under the BSP Relationship Management System. A parallel run begins for the 30 June 2025 reference period via PRIME’s Sandbox, while live submission starts for the 31 December 2025 reference period, at which point covered BSP-supervised financial institutions are to discontinue DDA submissions through the BSP Financial Institution Portal. The memorandum also sets process expectations for banks (referencing earlier API-based machine-to-machine guidance) and for non-banks with quasi-banking functions, including continued use of registered PRIME accounts, availability of a BSP XML converter, and use of machine-to-machine submission where available, with portal fallback until further notice; it supersedes prior DDA reporting memoranda issued in February and August 2022.
Central Bank of the Philippines 2025-07-21
Central Bank of the Philippines requires PRIME XML submission of demand deposit account reconciliation statements from the 31 December 2025 reference period
The Central Bank of the Philippines requires banks and non-banks with quasi-banking functions to submit Demand Deposit Account Reconciliation Statements in XML via the Prudential Reporting Innovation and Monitoring Engine (PRIME). A parallel run starts 30 June 2025, with live submissions beginning 31 December 2025, replacing previous methods. The guidelines outline process expectations and supersede earlier memoranda from February and August 2022.