The Central Bank of the Philippines issued Memorandum No. M-2025-026 updating the nomenclature of its residential property price index and simplifying quarterly reporting requirements for universal and commercial banks, thrift banks, and digital banks. The update renames the Residential Real Estate Price Index (RREPI) as the Residential Property Price Index (RPPI) and removes the notarization requirement for submissions of the Bank Quarterly Report on Residential Real Estate Loans (RRELs) and the Quarterly Report on Appraised Commercial Properties (QRACP). With the transition to a hedonic methodology, all references to “RREPI” are to be treated as referring to “RPPI”, aligning the terminology with international standards and the index’s stated coverage of residential property prices in the banking segment. Separately, following Monetary Board approval on 26 June 2025, the amended submission guidelines replace “duly notarized” requirements with scanned transmittal and certification forms “duly signed” by authorized bank officials, while maintaining electronic submission and the stated deadlines of twenty banking days from or after the reference quarter (as applicable in the relevant templates).
Central Bank of the Philippines 2025-07-09
Central Bank of the Philippines renames its residential property price index and waives notarization for quarterly real estate loan and appraisal reports
The Central Bank of the Philippines issued Memorandum No. M-2025-026, renaming the Residential Real Estate Price Index (RREPI) to the Residential Property Price Index (RPPI) and simplifying quarterly reporting requirements for banks. The update removes the notarization requirement for submissions, replacing it with scanned forms signed by authorized officials, aligning with international standards.