REPORT ON PROJECT FINANCE EXPOSURES LINE ITEM INSTRUCTIONS ON THE COVERAGE OF PROJECT FINANCE EXPOSURES
(Appendix to Sec. 173)
I. Project Finance Loans Classified According to Type of Infrastructure Projects – Report information on loans extended using the method of project finance as defined under Sec. 344 (Exclusion from the thirty percent (30%) unsecured individual ceiling for project finance) broken down as to the following type of infrastructure projects:
A. Highways, expressways, roads, bridges, interchanges, tunnels and related facilities;
B. Rail-based projects, non-rail based mass transit facilities, navigable inland waterways and related facilities;
C. Airports, air navigation and related facilities;
D. Piers, wharves, quays, and other port infrastructure-related facilities;
E. Power-generation/transmission/distribution related facilities;
F. Telecommunications, backbone network, terrestrial and satellite facilities and related service facilities;
G. Government buildings and housing projects;
H. Information technology (IT) and data base infrastructure-related facilities;
I. Education and health infrastructure facilities;
J. Irrigation, water supply, sewerage, drainage and related facilities;
K. Land reclamation, dredging, industrial and tourism estates/townships including ecotourism projects and other related development facilities/utilities;
L. Warehouses and post-harvest facilities, markets, slaughterhouses and related facilities;
M. Public fish ports and fish ponds, including storage and processing facilities; and
N. Others.
Additional Information on Project Finance Loans –
A. Project Finance Loans Classified According to the Current Phase of the Project Being Financed – Report information on project finance loans as defined under Sec. 344, broken down as to the following:
(1) Project is in its Gestation/Pre-operational Phase – Report information on loans extended to projects which are at the pre-operational phase or the phase wherein the project does not yet generate cash flows, as of reporting date.
(2) Project is Operational – Report information on loans extended to projects which are operational, or the phase wherein the project is already generating cash flows, as of reporting date.
B. Project Finance Loans for Public Infrastructure Projects Awarded under Public-Private Partnership Contracts/Agreements – Report the name of the infrastructure project awarded under Public-Private Partnership Contracts/Arrangements that is financed by the bank through project finance loans and other required information related to project finance loans for public infrastructure projects awarded under Public-Private Partnership Contracts/Arrangements.
Details of Project Finance Exposures
“Report in the appropriate column the following requested information:
1. No. of Accounts – Report the number of accounts of project finance loans extended.
2. Total Commitments – Report the total amount of commitments under committed credit line agreements of a bank with a corporation that fall under a project finance arrangement.
3. Outstanding Balance – Report the amortized cost (i.e., gross of allowance for credit losses) of project finance loans extended.
4. Allowance for Credit Losses – Report the specific allowance for credit losses booked for the project finance loans extended.
5. Net Carrying Amount – Report the net carrying amount of project finance loans extended as the difference between Items “(3)” and “(4)”.
6. Status of Accounts
Report the amortized cost (i.e., gross of allowance for credit losses) of project finance loans extended classified as to the following status:
(a) Current
(b) Past Due
(c) Non-Performing
(d) Items in Litigation
as defined under existing regulations.
7. Collateral
Report the amortized cost (i.e., gross of allowance for credit losses) of project finance loans classified as to the following:
(a) Secured by REM – Report the amortized cost (i.e., gross of allowance for credit losses) of project finance loans to the extent covered by real estate mortgage (REM) on residential and commercial properties.
(b) Secured by Non-Risk Assets – Report the amortized cost (i.e., gross of allowance for credit losses) of project finance loans to the extent covered by non-risk assets as provided under existing regulations.
(c) Secured by Other Assets – Report the amortized cost (i.e., gross of allowance for credit losses) of project finance loans to the extent secured by other assets as provided under existing regulations.
(d) Unsecured – Report the amortized cost (i.e., gross of allowance for credit losses) of unsecured project finance loans extended by the bank as provided under existing regulations.
8. Fair Value of REM Collateral – Report the fair value of the REM collateral on an annual basis.
9. Residual Maturity – Report the amortized cost (i.e., gross of allowance for credit losses) of project finance loans classified according to the time remaining from the date of report until maturity date of the loan.
(a) Up to 1 year;
(b) Over 1 year to 5 years;
(c) Over 5 years to 10 years; and
(d) Over 15 years.
II. Investments in Securities Issued for Infrastructure Projects under Project Finance – Report information on investments in securities issued for purposes of financing infrastructure projects funded through project finance as defined under Sec. 344 (Exclusion from the thirty percent (30%) unsecured individual ceiling for project finance).
A. Debt Securities
Report the names of corporations that issued debt securities for purposes of financing project finance activities that are held by the bank.
Further, report under the appropriate column the following information:
(1) Acquisition Cost – Report the acquisition cost of securities per line item indicated.
(2) Carrying Amount – Report the carrying amount, (i.e. gross of allowance for credit losses) of securities per line item indicated.
(3) Allowance for Credit Losses/Impairment – Report the specific allowance for credit losses/impairment per line item indicated.
(4) Net Carrying Amount – Report the net carrying amount of securities per line item indicated as the difference between Items “(2)” and “(3)”.
(5) Past Due Accounts – Report the carrying amount (i.e., gross of allowance for credit losses) of past due securities as defined under existing regulations per line item indicated.
(6) Collateral – Report the carrying amount (i.e., gross of allowance for credit losses) of securities as to the following collateral types:
(a) Secured by Mortgage Trust Indenture (MTI)
(b) Secured by Non-Risk Assets
(c) Secured by Other Assets
(d) Unsecured
(7) Fair Value (Annually) – Report the fair value of securities held by the bank on an annual basis.
B. Equity Securities
Report the names of special purpose entity (SPE) projects that are listed with the Philippine Stock Exchange.
Further, report under the appropriate column the following information:
(1) Acquisition Cost – Report the acquisition cost of equity securities per line item indicated.
(2) Carrying Amount – Report the carrying amount, (i.e. gross of allowance for credit losses) of equity securities per line item indicated.
(3) Allowance for Impairment – Report the specific allowance for impairment per line item indicated.
(4) Net Carrying Amount – Report the net carrying amount of equity securities per line item indicated as the difference between Items “(2)” and “(3)”.
(5) Fair Value – Report the fair value of equity securities held on an annual basis.
Additional Information
A. Investments in Securities for Project Finance Infrastructure Projects Awarded under Public-Private Partnership Contracts/Arrangements – Report the name of the project finance infrastructure project awarded under Public-Private Partnership Contracts/Arrangements that is financed by the banks through investments in securities and other required information related to the investments in securities issued to finance public infrastructure projects awarded under Public-Private Partnership Contracts/Arrangements.
(Circular No. 976 dated 10 October 2017)