Please
refer to SBP circular No. DS.MFS. 5(18) / 2008 -1556 dated
5th August, 2008, under which banks are required to submit
monthly statements of Flow of Funds (Annexure A03), Deposits
Distributed by Category of Deposit Holders (Annexure A05)
and Loans Classified by Borrowers (Annexure A07) by 20th
of the following month to which data relates through DAG
Portal of SBP.
In this connection meetings were
held with all scheduled banks on May 4th & 5th 2009
at LRC in State Bank of Pakistan to reduce the timelines
of the captioned returns. During the meeting it was unanimously
agreed that timelines for submission of the returns will
be reduced in phases. In the first phase, from June 2009,
Banks are required to submit the data of the captioned
returns by 15th of the following month to which it relates.
In the second phase, from January 2010, the timelines
will be further reduced to 10th of the following month.
From July 2010, the returns are to be submitted with lag
of 5 days i.e., 5th of the following month.
Further,
a decision was taken in quarterly SBP-PBA meeting in February
2007 and subsequent meetings of SBP with banks’
executives that bank would establish centralized reporting
units with qualified staff at head office as well as at
regional level. It has been observed that progress made
by the banks in this direction is still very low. It is
reiterated that SBP attaches a lot of importance to the
quality and timeliness of data reporting and it cannot
be achieved in the absence of such systems at banks level.
Therefore we expect banks to take positive steps for increasing
the efficient and consistent data reporting capabilities.
Minutes of the meeting held with banks on May 4th &
5th are also enclosed.
Encl:
(01)