Banks/DFIs advised to submit returns through DAP

In order to bring efficiency and accuracy in the returns and reports submission process, the State Bank of Pakistan (SBP) on Tuesday advised banks/DFIs to submit reports including exposure to stock market, board meeting minutes and rescheduling of loans, through Data Acquisition Portal (DAP). Previously, banks and DFIs were submitting reports and returns in shape of hardcopies as per described timeframe. However, now it has decided to further streamline the reporting system accordingly banks and DFIs have been asked to submit required reports/ returns through DAP.
SBP said the reporting formats of returns and report have been placed at DAP under Knowledge Center and effective from July 1, 2016, all banks/DFIs are necessary to submit required reports or returns through DAP. In this regards SBP on Tuesday issued two circulars to enforce this move. According to circular FSD Circular Letter No 02 of 2016, return/ report of statement of Exposure to Stock Market Report will be submitted fortnightly, Statement of Large Exposure quarterly, Report on Stress Testing quarterly, Report on Details of Rescheduling/ Restructured Loans and Advances quarterly and Prudential Returns regarding details of related parties Exposures and Transactions half yearly through DAP.
Banks/DFIs, however, have been directed to continue to submit hard copies of the these returns/reports to this Financial Stability Department for the reporting period ending on or upto September 30, 2016 within their respective prescribed timelines. Thereafter, these returns/reports will only be submitted through DAP.
SBP in another circular OSED No 01 of 2016, asked all banks/DFIs to submit return/ report of Financing against FE-25 Deposits fortnightly, FC Borrowing of Authorised Dealers fortnightly/monthly/quarterly, Minutes of Board Meeting/ Annual General meeting/ Extra Ordinary General Meeting within 21 days of meeting and Data of overseas Branches and Subsidiaries on quarterly basis through DAP. However, banks/ DFIs will continue to submit hard copies to OSED upto September 30, 2016 within their respective prescribed timelines. Thereafter, the above returns/reports shall only be submitted through DAP. The circular said that all other instructions relating to these returns and reports will remain unchanged. It may be mentioned here that earlier this year consequent upon establishment of FSD, some of the functions including assessment of resilience of banks/DFIs towards stress tests and monitoring of related party exposures, large exposures, restructured/rescheduled loans and equity exposures, being performed by the Offsite Supervision and Enforcement Department (OSED) and Banking Policy and Regulations Department (BPRD), have been transferred to FSD.