Central Bank of the Philippines updates COCREE 2.0 submission timetable and will enforce penalties for reporting breaches from the September 2025 period

The Central Bank of the Philippines issued updated implementation guidelines for the ongoing live submission of the Enhanced Comprehensive Credit and Equity Exposures Report of 2023 (COCREE 2.0) under Circular No. 1184, covering universal and commercial banks, digital banks, thrift banks, non-bank financial institutions with quasi-banking functions, and trust corporations. The guidance confirms monthly reporting via the BSP Relationship Management System (BRMS) COCREE 2.0 Live Module and sets out revised due dates from the 30 April 2025 reporting period onward, alongside strengthened expectations for data quality. COCREE 2.0 submissions are to be filed monthly through the BRMS COCREE 2.0 Live Module, accessible daily from 6:00 a.m. to 8:00 p.m., except weekends and holidays, with any availability changes to be announced by the Credit Reporting System Unit. Due dates are set as follows: 30 April 2025 (8 July 2025), 31 May 2025 (31 July 2025), 30 June 2025 (12 August 2025), 31 July 2025 (10 September 2025), and 31 August 2025 (7 October 2025), with 30 September 2025 and onward due 25 business days after the reference reporting period. Reports must be complete, accurate, consistent, and timely, reconcile with other BSP regulatory reports, and contain true and correct borrower and counterparty information, with proxy or dummy data prohibited except for specified default values in the COCREE 2.0 report package documentation. Penalties for COCREE 2.0 reporting violations will be strictly enforced beginning with the 30 September 2025 reporting period, while earlier periods are treated as a grace period for adjustments, limited to BSP-supervised financial institutions actively submitting via the BRMS COCREE 2.0 Live Module.