To strengthen surveillance of all banks, the Bangko Sentral ng Pilipinas (BSP) is planning to change the submission rules of 20 prudential reports that are migrating to the application programming interface (API) platforms. | ManilaBulletin
Based on draft guidelines released on Monday, June 5, the BSP will effectively amend the category and due date or submission deadlines, as well as the procedures of the 20 reports currently using the extensible mark-up language format through the API.
The BSP in October 2021 implemented new rules to efficiently gather and process information from banks and non-banks which include the migration to the API-based prudential report submission. Besides XML, the API accepts other file formats such as MS Excel, PDF, CSV, among others. The BSP however, prefers XML because it restructures various reports to a single report, thus enabling a more streamlined reporting process.
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