B U R E A U O F T H E T R E A S U R Y
ANNUAL REPORT CY 2011
BTr: Committed to the attainment of rapid, inclusive and sustained economic growth C o n t e n t s
1 Letter to the President 2 BTr Mandate 4 The Report of the Treasurer of the Philippines
STATISTICAL TABLES 17 Table 1. Assessment of BTr Income Performance 18 Table 2. Assessment of Cash Budget Performance 19 Table 3. Assessment of Debt Service 20 Table 4. NG Asset Position 21 Table 5. NG Cash Balance 22 Table 6. NG Outstanding Debt 23 Table 7. Interest Rate on Treasury Bills 24 Table 8. Regional Office Operations 25 Table 9. Debt Indicators 31 Directory of Officials
His Excellency President BENIGNO C. AQUINO III Malacanang Palace Manila
Dear Mr. President:
On behalf of the officials and employees of the Bureau of the Treasury (BTr), I am honored to submit to Your Excellency the 2011 Annual Report of the Bureau.
This report highlights the significant achievements of the Bureau in support of the administration’s thrust for rapid, inclusive and sustained economic growth while the nation threads through the narrow and straight path or “matuwid na daan.”
Rest assured that the entire BTr Family is behind the strong leadership of your Excellency in your quest for effective, honest and transparent governance towards the country’s economic progress and development.
Very truly yours,
ROBERTO B. TAN Treasurer of the Philippines
June 30, 2012
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BTR Mandate
Under Executive Order No. 449:
Assist in the formulation of policies on borrowing, investment and capital market development;
Formulate adequate operations guidelines for fiscal and financial policies;
Assist in the preparation by government agencies concerned of an annual program for revenue and expenditure targets, borrowing levels and cash balances of National Government;
Maintain books of accounts of the cash transactions;
Manage the cash resources, collect taxes made by NG and guarantee forward cover fees due NG, control and service its public debt, both foreign or domestic;
Issue, service, redeem government securities for the account of NG as may be authorized by the President pursuant to law;
Administer the Securities Stabilization Fund by purchase and sale in the open market of government bills and bonds to increase the liquidity and stabilize the value of said securities in order to promote private investment in government securities;
Act as principal custodian of financial assets of the NG, its agencies and instrumentalities;
Bond all accountable public officials and employees pursuant to the provisions of the Public Bonding Law and issue appropriate guidelines therefore; and
Perform such other related functions as may be assigned to it by competent authorities.
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Under Republic Act No. 245 as amended by Presidential Decree No. 142; Republic Act No. 1000:
Certify allowable debt and guarantee. Manage contributions to the Bond Sinking Fund and the fund itself.
Under Republic Act No. 38944:
Manage the Assurance Fund for the redemption of Land Reform Bonds.
Under Republic Act No. 6657:
Manage the Agrarian Reform Fund.
Under Executive Order No. 739 and Republic Act No. 8250:
Offset from the budgetary support to GOCCs their corporate cash dividend under R.A. 7656, guarantee fees, advances for loans relent to GOCCs as well as for obligations which are guaranteed by the NG and other valid receivables of NG.
Under Republic Act No. 3936 as amended by Presidential Decree No. 679:
Initiate legal proceedings for escheat of unclaimed balances in favor of the government.
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THE REPORT OF THE TREASURER OF THE PHILIPPINES
In pursuance of the President’s extension of average maturity of accepted Social Contract with the Filipino People, the bonds from 5.48 years to 18.01 years. Bureau of the Treasury (BTr) directed its efforts in the year 2011 towards having the The bond swap transaction also required financial resources to enable the established new benchmarks for long-term Benigno Aquino government to deliver the financing to promote public-private desired results which lead to direct, partnerships (PPP) for more infrastructure immediate and substantial improvements in projects that are expected to bring about the lives of our countrymen. Under the more employment opportunities in the priority area on rapid, inclusive and country. The Republic set coupon rates for sustained economic growth, the Bureau the Long 10-year and 20 year Benchmark issued 10 and 20 years benchmark bonds on Bonds at 6.375% and 8.000%, respectively. July 19, 2011 in a bond exchange worth These bonds together with the 25-year bonds P323.454 billion. It is the second domestic issued in December 2010, serve as bond exchange under the Aquino benchmarks for long-term financing in line Administration and the Republic of the with government initiatives to promote PPP Philippines’ largest domestic bond swap in infrastructure projects and the transaction. development of capital markets.
The bond swap is part of the The Bureau also raised funds for the domestic debt consolidation program of the government through its retail treasury bond Republic to smoothen its debt maturity (RTB) program. Under this program, BTr profile, extend the maturity of existing peso issued on March 3, 2011 RTB Tranche 13 liabilities and establish liquid benchmarks at consisting of 5-year and 10-year bonds from the long end of the yield curve. The which the government raised a total of transaction substantially reduces the P103.967 billion. Then on October 20, bunching of the Republic’s debt maturities, 2011, the government raised a total of particularly in the medium term and P110.097 billion from the issuance of RTB significantly mitigates its refinancing risk. Tranche 14. Of the said amount, P54.953 billion came from the sale of 10-year and The transaction achieved cashflow P55.144 billion was for 15-year RTBs. and debt service relief in the medium term, which the Republic may channel to its infrastructure and socio-economic projects. Following are the other The bond swap extended the average accomplishments of the Bureau from its maturity of the portfolio of eligible bonds by operations for the year 2011: 37.9% or approximately 2.08 years with the
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Income Performance
Amid the financial challenges that P157.621 billion non-tax revenues, 47.73% greatly hampered the revenue generating was raised by the Bureau through its performance of major collecting agencies of operation as well as its continuous resolve to the National Government, the Bureau of the collect NG income that should be remitted Treasury has consistently manifested that it to the Bureau. can be a potent contributor of funds to the national coffers. This is evident in its Interest income on NG deposits performance for the year when it actually totalled P2.033 billion; interest on advances generated an income of P75.236 billion, to government-owned and controlled representing 7.5% excess over the program corporations (GOCCs) reached P1.036 level of P69.996 billion. billion; fidelity bond premia totalled P526 million; guarantee fee was P2.533 billion This commendable feat can be while foreign exchange risk cover fee attributed to hard work and very clear policy amounted to P1.590 billion. Another major directions set by His Excellency, President source of BTr income during the year is the Benigno Aquino III and Department of interest earned from investment of Bond Finance Secretary Cesar Purisima, and to the Sinking Funds (BSF) and Securities Bureau’s resolve not only to achieve its Stabilization Funds (SSF). Total earnings income target but to maintain its ranking as from these funds in CY 2011 amounted to the third biggest revenue earner of NG. The P25.374 billion. effective and prudent management of government cash resources translated to Likewise, a significant portion of the interest income. Furthermore, because of NG income collected by BTr for CY 2011 the BTr’s intensive campaign for the banks totalling P41.783 billion was generated to remit unclaimed balances and its close from P28.706 billion dividends on shares of coordination with the Office of Solicitor stocks, P1.167 billion NG share in MIAA General, Prosecutor’s Office and the Courts, profit and NG shares from PAGCOR the Bureau was able to collect P12.648 income and airport terminal fees in the million representing escheated unclaimed amounts of P11.437 billion and P473 balances from January to December 2011. million, respectively.
The Bureau not only acts as principal custodian of all financial assets of the national government, its agencies and instrumentalities but also manages the cash resources of NG. This is done by investing idle funds in higher yielding instruments. Cash is managed in pooled investment funds to maximize interest earnings. Of the total
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Savings in Interest Payments
Interest payments for the year totalled P278.996 billion, of which P170.476 billion or 61.10% were used to service domestic liabilities while the remaining P108.520 billion or 38.90% were interest paid on foreign obligations. Compared to the P321.597 billion program for the year, the national government realized huge savings of P42.601 billion due to lower actual than assumed interest rates and lower volume of domestic securities issued vis-à-vis programmed borrowings for the year 2011.
Interest Rate Movements
Still consistent with the thrust of the Pilipinas, the Bureau, as Vice-Chairman of government to have a low and stable interest the auction committee, has been a rate, the average 91-day Treasury bill rate contributory factor to the decline in interest for the year was at 1.482%, lower than the rate for the year 2011. BTr has been assumed rate of 6.000%. The average transparent in its borrowing program and interest rates for 182-day and 364-day T- held regular consultations with Government bills were 1.810% and 2.373%, respectively. Securities Eligible Dealers (GSEDs) during the year, which resulted in low, stable Although interest rate policy is interest rate. within the purview of the Bangko Sentral ng
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Cash and Other Asset Management
Committed to its primary role of cash. The Cash Flow Committee conducts ensuring the availability of cash resources to weekly meetings to determine shorter term support NG’s funding requirements, BTr calculation of cash availability to meet the continued to strengthen its cash management requirements of the National Government. activities. Prudent management of NG’s The Bureau anticipates the cash needs of the cash resources resulted in the generation of NG and ensures that payments of NG P25.374 billion income from BSF/SSF obligations, including NG debt and other investments and the remittance of P28.706 expenses, are made in a timely manner. It billion dividends on shares of stocks, then invests temporary excess funds and representing major contributions to total BTr optimize its profitability to augment the income. income of the government.
For CY 2011, total interest earned Likewise, a market surveillance from NG deposits amounted to P2.033 mechanism monitored interest rates and billion which is 6.08% of the total BTr foreign exchange rates daily to optimize the income generated. Interest income from earnings of the NG’s portfolio. The Bureau deposits with Bangko Sentral ng Pilipinas continued to lend valuable assistance (BSP) for CY 2011 was P203 million more through the preparation of technical papers, than the actual interest earned in CY 2010. such as Fiscal Programs and Estimates on Compared to program for CY 2011, NG Budgetary Financing. BTr also however, interest income from deposits with provided technical support to DOF officials Bangko Sentral ng Pilipinas (BSP) as well during congressional deliberations on the as interest earned from deposits with other CY 2012 NG budget. Authorized Government Depository Banks (AGDBs) were significantly lower than the As member of the Government programmed level for the year mainly due to Integrated Financial Management lower cash balances maintained by NG with Information System (GIFMIS) Committee, them. Interest income from deposits with BTr, together with the Department of BSP was lower by 18.10% to P1.443 billion Finance, has been coordinating with the as against the P1.762 billion program for the other key oversight agencies of the year, while the P590 million interest earned government namely, the Commission on from deposits with other AGDBs was also Audit (COA) and the Department of Budget lower by 37.63% compared to P946 million and Management (DBM) in preparation for full year program. the proposed Public Fiscal Management reform projects, particularly on Treasury For effective cashflow management Cash Management Operations. GIFMIS is which enables it to anticipate the cash needs defined as “a customized and integrated of NG, BTr monitors and projects daily, application or automation of monthly, quarterly inflows and outflow of
7 financial operations of the national Modified Disbursement System (MDS) government particularly financial planning totalled P1,156.094 billion for CY 2011 and budgeting, treasury, and accounting functions.” This will eventually generate The Bureau is also tasked to reliable and accurate reports in a timely undertake the bonding of accountable manner for the use of government decision government officials/employees pursuant to makers and the scrutiny of the public. This the provisions of the Public Bonding Law. is, of course, in support of the President’s This function has been decentralized to the Social Contract with the Filipino people regional offices since 1996. Total bond which promotes transparency, accountability premium collections for CY 2011 reached and good governance. P526 million. Total number of bonding applications approved reached 154,723 with BTr’s regional offices coordinated risk coverage of P34.227 billion. with various national collecting officers (NCOs) and local treasurers (LTs) to effect As custodian of government funds, the prompt deposit of revenue collections to the total balances maintained by the Bureau Authorized Government Depository Banks in the Bangko Sentral ng Pilipinas (BSP) (AGDBs). Total monitored revenue and Authorized Government Depository collections deposited during the year Banks (AGDBs) amounted to P188.531 amounted to P170.929 billion. On the other billion, which was P79.665 billion lower hand, monitored expenditures under the than last year’s level of P268.196 billion.
Debt Management
The Bureau of the Treasury is Contingent debt consisting of debts responsible for the prudent management of guaranteed by the NG amounted to foreign and domestic obligations of the P573.372 billion as of December 2011, government as well as the prompt servicing higher by P23.564 billion from end- of said liabilities. As of December 2011, the December 2010 level. The bulk came from National Government debt increased by foreign obligations comprising 73% or 4.94% or P233.017 billion from end- P415.785 billion. December 2010 level. Total outstanding debt stood at P4.951 trillion of which, The Bureau takes charge of the P2.078 trillion or 41.97% is owed to foreign primary sale of Treasury Bills and Bonds creditors and P2.873 trillion or 58.03% to through electronic auction. For the year domestic creditors. Total NG debt is 2011, a total of P181.926 billion worth of composed of 5.96% in short-term liabilities, regular T-bills and P348.942 billion worth 11.40% in medium-term and 82.64% in of T-bonds were sold through auction via long-term liabilities. the Automated Debt Analysis System (ADAPS), tap and over-the counter (OTC)
8 facility. It also sold RTBs worth P214.064 P323.454 billion bond swap and established billion and Benchmark Bonds worth new long 10-year and 20-year benchmark P326.505 billion during the year. bonds during the year. It is the second domestic bond exchange under the Aquino The RTBs issued during the year Administration and the Republic’s largest were component parts of RTB Tranche 13 domestic bond swap transaction. A total of and 14. Under the RTB program, BTr P299.436 billion of Eligible Bonds were issued on March 3, 2011, BTr RTB Tranche submitted pursuant to the Exchange Offer, 13 consisting of 5-year and 10-year bonds of which P69.521 billion and P229.915 from which the government raised P33.009 billion were submitted and exchanged into billion and P70.958 billion, respectively, or new long 10-year and new 20-year a total of P103.967 billion. Of the total benchmark bonds, respectively. The bond amount, P20.0 billion was sold to GSEDs swap is part of the liability management through Dutch auction, P38.979 billion was program of the Republic to smoothen its subscriptions received by the selling agent debt maturity profile, extend the maturity of during the public offering period and existing peso liabilities and establish liquid P44.988 billion was sold through the benchmarks at the long end of the yield Bureau’s over-the-counter window. curve. The transaction achieved cashflow For RTB Tranche 14, the and debt service relief of P152.6 billion in government raised a total of P110.097 the medium term, which the Republic may billion from the sale of 10- and 15-year channel to its infrastructure and socio- RTBs amounting to P54.953 billion and economic projects. P55.143.96 billion, respectively. Of the total amount, P20.0 billion was sold to GSEDs Finance Secretary Cesar through Dutch auction last October 10, V.Purisima hailed the success of the 2011, P31.46 billion was subscription transaction, saying “The success of this received by the selling agents during the bond exchange will further strengthen the public offering period and P5.643 billion fiscal position of the Republic as short and was sold to GOCCs thru the Bureau’s over- medium term debt will be swapped for the counter window. The remaining P5.3 longer dated securities. It also affirms the billion was sold to BSF to secure NG’s growing investor confidence in the country’s maturing obligations covered by sinking long term prospects.” fund. As part of its liability management exercise, BTr repurchased ROP Global Joint Deal Coordinators for the Bonds worth about USD1.480 billion and bond exchange are state-run Development EUR109.700 million. Bank of the Philippines and Land Bank of the Philippines. Together with BPI Capital Under its domestic debt Corporation, Citicorp Capital Philippines, consolidation program, the Republic of the Inc., First Metro Investment Corporation Philippines successfully completed and SB Capital Investment Corporation, the
9 six institutions comprise the consortium of Management and Financial Analysis System Joint Deal Managers for this year’s bond (DMFAS) from version 5.3 to 6.0. It is an exchange. activity under the Sub-Project 1 – Debt Management, of the 3-year technical co- The Bureau’s Scripless Securities operation between BTr and UNCTAD. Registry Division (SSRD) registered in the Tasks undertaken include the conversion of Registry of Scripless Securities (RoSS) 5.3 database to version 6 format, validation database a total of 140,874 transactions, of the converted database on aggregates which include sale/purchase of government basis, installation of version 6 and the securities (GS), tap, auction, maturities, converted data base, conduct of DMFAS 6 earmarking, unearmarking, pledge, and functional training for 11 DMAD Staff pledge release with the aggregate amount of current users and 29 new users consisting of P9.981 billion arising from the secondary 19 from different units of BTr, 6 from DOF market trading of GS. It also settled via and 4 from COA, and started testing/using Bangko Sentral ng Pilipinas (BSP) real-time DMFAS 6 in parallel with version 5.3. gross settlement (RTGS) a total of 29,077 transactions with face value of P3.370 billion. During the year, SSRD processed 17 new RoSS participants, which include banks, insurance companies, tax-exempt institutions and other financial institutions. Finally, it collected a total of P10.043 million as RoSS maintenance fees from member-participants via RDDA (BSP) and checks.
On strengthening debt management Debt service payments for the year in the Bureau, the Debt Monitoring and 2011 amounted to P722.750 billion, about Analysis Division (DMAD) coordinated 39% of which were for interest payments with the United Nations Conference on while those for principal payments Trade and Development (UNCTAD) and constituted about 61%. Management Information Systems Service (MISS) on the upgrading of Debt
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NG Cash Operations
The Bureau is mandated to account and monitor all receipts and disbursements of all funds of the National Government. For CY 2011 the fiscal deficit of NG stood at P197.754 billion, registering an over performance of P102.246 billion compared with the program of P300.0 billion and P116.704 billion improvement over the P314.458 billion deficit level for CY 2010. It is equivalent to 2.0% of GDP and better than the 3.5% in 2010. Netting out the interest payments in the expenditures, however, the NG recorded a primary surplus for the year amounting to P81.242 billion. For the full year of 2011, the Bureau accounted for a total of P1,359.942 billion revenue collections, which is P102.246 billion lower than program. It grew by 12.6% compared to last year’s P1,207.926 billion. While the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) registered a growth of 12.34% and 2.26%, respectively compared to the same period last year, these agencies missed their full year target by P15.854 billion and P54.892 billion, respectively in CY 2011. This was partially offset by the over performance of the Bureau of the Treasury and Other Offices, which exceeded their target by P5.240 billion and P14.144 billion, aggregate amount of P1,202.066 billion, respectively. The sharp increase in the posting a 9.91% increase over the revenue of Other Offices was due to the P1,093.643 billion collected in CY 2010. Of collection of motor vehicle user’s tax the total tax revenues generated, 76.88% or amounting to P10.100 billion. P924.146 billion was attributed to the Bureau of Internal Revenue (BIR), 22.05% Total revenues consist of tax or P265.108 billion to the Bureau of collections and non-tax revenues. Tax Customs (BOC) and 1.07% or P12.812 collections contributed 88.39% with an billion to Other Offices.
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Non-tax revenues, which include the billion for the year, actual expenditures income of BTr, grants and proceeds from were lower by P153.608 billion. This was privatization of government assets amounted mainly the result of cautious spending to to P157.621 billion. This commendable ensure that public funds are appropriately performance is largely attributed to efficient spent for the optimum benefit of the people. management of investible funds which Of the total government spending, P278.996 generated P25.374 billion income from billion pertains to interest payment which investments, P28.706 billion dividends on was P42.601 billion lower than the projected shares of stocks and P2.003 billion interest P321.597 billion. on NG deposits. Financing transactions resulted in a Total expenditures, on the other net borrowing of P115.263 billion. Net hand, reflected a 2.27% growth from external borrowings reached P51.160 billion P1,522.384 billion in CY 2010 to while net domestic borrowings amounted to P1,557.696 billion in CY 2011. Compared P64.103 billion. to the programmed level of P1,711.304
Support Services
The Bureau of the Treasury supports a administration demonstrated, BTr focused sound public financial management system its strategic planning conference for the year which helps government decision makers in 2011 in the discussion of proposed projects performing their functions effectively, under the Financial Sector Stabilization efficiently and economically. Towards this Program (FSSP) most of which are meant to end, BTr officials who are members of the automate the Bureau’s processes. Among GIFMIS Committee worked hand in hand these projects are the Accounting System, with high-level officers of COA, DBM and Network Infrastructure Implementation for DOF in coming up with Public Financial Ayuntamiento Building, WEB Portal Management Reform Roadmap. Among the Equipment System, Equipment Processing benefits from the GIFMIS is in facilitating System, Document Management System, e- cash management where accurate data on Budget and e-NGAS, Economic Forecasting bank account balances, revenue and cash with Eviews 7.0, Administrative System, positions and fund utilization can provide Treasury Management System, Enhanced fiscal managers with a reliable basis for cash Legal Information System (Phase 2), Field flow forecasting, short-term financing, and Operations System, and the Business maintain appropriate daily cash balances. Continuity Plan-Disaster Recovery Plan. To cap the planning conference, teambuilding Inspired by the qualities of honest and fellowship activities were also held in and transparent governance that the new Lipa, Batangas on March 26, 2011.
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For organizational responsiveness and safer working environment for the and effective management control, the Bureau. Bureau provided sound internal auditing and other control measures. Adequate internal Administrative and other support security services were provided to ensure services were efficiently rendered for the safety for its personnel and material assets. smooth operations of the BTr. The various pre- and post-audit inspections Housekeeping concerns such as the periodic and evaluation as well as the physical maintenance of lighting, water, telephone inventories of office supplies and materials and transportation facilities were properly have resulted in a more prudent use of the addressed while awaiting transfer to the Bureau’s resources. For CY 2011, 147 soon-to-be-completed Ayuntamiento leave credit ledgers/cards of BTr personnel Building. at the Central Office and Field Offices were Preparatory to the implementation of audited and validated for accuracy. Strict government public financial reforms, BTr inspection on the delivery of supplies and officials were sent to the following foreign equipment of various suppliers was conferences, seminars, forum, meetings, and implemented to ensure that the delivered study tours during the year: Exposure visit items conformed to the right specifications. to the Ministry of Finance (Agence France For this purpose, 123 line items from the Tresor) and the Bangue de France, in Paris, Procurement Service and 351 line items France, upon the invitation of the Economic from various suppliers with a total amount Department f the Embassy of France in the of P1.271 million and P16.172 million, Philippines; Sub-Sovereign Finance Forum respectively were inspected. Pre-repair on Debt, Insolvency and Market-Lessons inspections were also conducted on 102 Learned and Emerging Issues in Washington requests by concerned end-users for repair DC, U.S.A.; Meetings with Representatives of office vehicles, equipment and other from International Legal Counsels and with properties of the Bureau. Likewise, post- Officials from the Hong Kong Monetary inspection was done to ensure that the repair Authority; IMF-World Bank Annual was properly undertaken and that right spare Meeting and the meeting/discussions with parts were installed. In the case of officials of International banks held in purchases, 107 transactions with a total Washington DC and New York City, amount of P2.392 million were also post- U.S.A.; Study Tour on the Russian GIFMIS inspected to make sure that they met the Treasury Single Account in Moscow, right specifications. On the other hand, Russia; 8th ASEAN Finance Ministers’ stringent security measures and the strict Investor Seminar conducted in Jakarta implementation of various office security Indonesia; 8th Debt Management Conference policies to deal with numerous security and meeting of the Debt Management and challenges both internal and external Financial Analysis System (DMFAS) contributed heavily towards a more secured Advisory Group as well as the General Assembly and activities of the World
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Association of Debt Management Offices on DMS-KMT 37th Special Colloquium for (WADMO) in Geneva, Switzerland; People Managers: Turning a Global Implementing Government Debt Principle into Local Practice; Product Management Strategies Workshop in Awareness Seminar; Cross-Products Washington DC, U.S.A.; and the 6th Derivatives Intensive Workshop; Training Meeting of ASEAN+3 Bond Market Forum on Windows 7, and Microsoft Office 2010 (ABMF) held in Beijing, China. Applications (Word, Excel, and Powerpoint); FMIS Training Course: FMIS In its continuing effort to 101 for the Philippine Team; ICT Resources professionalize and promote human Acquisition (ICTRA); Training on Debt resources development, the Bureau’s Management and Financial Analysis System officers and employees were sent to the 6.0 (DMFAS 6.0); 11th Visayas Convention following seminars, trainings, workshops of Regional Executives and Resident and conferences held locally during the year: th Ombudsmen; Implementing Security Using 2011 Biennial Convention and 50 COBIT Workshop; 3rd Finance Asia Anniversary Foundation of the National Corporate Treasury and CFO Summit; 2nd League of Philippine Government Nurses; Quarterly Membership Meeting and Seminar Evaluation and Pre-Strategic Planning of the Philippine Association for Conference; Lighting Workshop; First Government Budget Administration Philippine Lighting Conference-Manila (PAGBA). Inc., with the theme “Promoting 2011; Seminar on Cash Flow Management; Government Credibility in Partnership with Seminar-Workshop on Digitization and Civil Society Organizations”; 3-Day Document Management; Seminar-Workshop Training on “PC Repair, Upgrading, on Republic Act No. 9470 (National Assembly and Networking”; Seminar- Archives Act of the Philippines of 2007) and Workshop on Coaching, Mentoring, and Records Disposition Administration; BTr- Succession Planning; GIFMIS (Track 1 and Strategic Planning Conference for 2011; 2) Implementation Planning Workshop; Seminar-Workshop on Records and Seminar-Workshop on Women Economic Archives Counter Disaster Planning; 2011 Empowerment (WEE) Indicators; Regional Region IV-B Strategic Planning Conference; th th Operations Mid - Year Assessment; AGIA 13 National Convention of Lawyers; 14 Annual National Convention cum Seminar Session of “Salamin-Diwa ng Paglilingkod”; with the theme “Global Challenges: AGIA Planning and Training Workshop of the Responsive, Organized, Competent, Government Electronic Payment and Knowledgeable, Sensitive”; Management Collection System Evaluation Team Program for e-Governance (MPeG); (GEPCSET); Managing ICT Services in Seminar-Workshop –Tagumpay sa Isip at sa Government – ITIL Framework; Mandatory Gawa; 3-day Competency-Based Training Continuing Legal Education (MCLE) on HRM in the Public Sector; 89th Lecture Series; Government Association of Foundation Anniversary, 54th Nurses Week Certified Public Accountants (GACPA)’s Celebration, and 2011 Annual National 33rd Annual National Convention; Seminar
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Convention of the Philippine Nurses Knowledge Sharing Program Meeting with Association, Inc.; 10th National Career the Koreans Public Finance Officers; Executive Service Conference; Proficiency General Assembly Meeting and 3rd Training/Target Practice; 2D Animation Quarterly Seminar with its theme: Course; Competency - Based Training on “Promoting Government Credibility in HRM in the Public Sector; Workshop on Partnership with Civil Society Harmonization of PFM Terminologies and Organizations”; Management Development Reporting Formats and Validation PFM Course; and PhilGEPS Training on the use Manual; Seminar on Values: Critical of Virtual Store (Phase 2). Components of Enhanced Performance;
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The Bureau of the Treasury had a very simple celebration of its 114th founding anniversary. It was celebrated with a Thanksgiving Mass officiated by Rev. Fr. Chito Bartolo, OFM Cap, on November 4, 2011 at the BTR Convention Hall. Lunch reception followed in the employees’ respective Services/Divisions/Units.
Metropolitan Bank & Trust Company; Bank of the Philippine Islands; Land Bank of the Philippines; Standard Chartered Bank; Rizal Commercial Banking Corporation; BDO Unibank; and Security Bank.
Finally, the Bureau of the Treasury joined the whole nation in the joyous celebration of the birth of Jesus Christ. The officials and
employees of the Bureau were one in praising On December 20, 2011, the annual God in the Thanksgiving Mass on December 20, recognition of the best performing Government 2011, which kicked-off the Christmas Securities Eligible Dealers (GSEDs) was held. celebrations. In the afternoon of the same day, The awards were given at a simple gathering BTr Central Office personnel were treated to a dubbed “Breakfast with the Treasurer” attended fun-filled Christmas program entitled “BTr Got by managers and executives of the top ten Talent…Show Mo sa Pasko!” On the next day, GSEDs. For this year, GSEDs’ performance in BTr had its Christmas with the children aptly the auction of government securities in the dubbed “Family Day”, where the kids enjoyed primary market only was evaluated for awarding delicious food, parlor games, singing, dancing purposes. Deutsche Bank won as the Best and gifts galore in cash and in kind. BTr field Performing GSED. The other nine top offices celebrated Christmas in their own jolly performers were: Citibank, N.A.; Hongkong and ways. The Bureau ended the year with so much Shanghai Bank, Inc.; joys and new hopes for the coming year.
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Table 1
ASSESSMENT OF BTR INCOME PERFORMANCE (In Million Pesos)
Actual Program Difference Actual Actual vs 2010 2011 2011 2011 vs 2010 Program
A. BTR Income 30,864 33,453 34,235 2,589 -782
1. Interest Income on NG Deposits 2,224 2,033 2,708 -191 -675 BSP 1,240 1,443 1,762 203 -319 Other Banks 984 590 946 -394 -356 2. Interest on Advances to GOCCs 159 1,036 710 877 326 3. Income from BSF/SSF/Investments 23,816 25,374 23,963 1,558 1,411 4. Guarantee Fee 2,389 2,533 4,079 144 -1,546 5. Foreign Exchange Risk Cover Fee 1,112 1,590 1,910 478 -320 6. Interest Income on Bond Holdings 12 12 0 0 12 7. Government Service Income 1,152 875 865 -277 10 a. Fidelity Bond Premia 520 526 125 6 401 b. Subscription Fee - RoSS Participants 10 10 10 0 0 c. Escheat of Unclaimed Balances 18 13 10 -5 3 d. Service Fee on Relent Loans 227 263 720 36 -457 e. Others 377 63 0 -314 63
B. NG Income Collected by BTR 23,451 41,783 35,761 18,332 6,022
1. Dividend on Shares of Stocks 12,013 28,706 23,799 16,693 4,907 2. NG Share in Airport Terminal Fee 476 473 300 -3 173 3. NG Share in PAGCOR Income 10,343 11,437 10,940 1,094 497 4. NG Share in MIAA Profit 619 1,167 722 548 445
C. TOTAL INCOME 54,315 75,236 69,996 20,921 5,240
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Table 2
ASSESSMENT OF NG CASH BUDGET PERFORMANCE (In Million Pesos)
Actual Program Difference Actual Actual vs 2010 2011 2011 2011 vs 2010 Program
REVENUES 1,207,926 1,359,942 1,411,304 152,016 -51,362
BIR 822,623 924,146 940,000 101,523 -15,854 BOC 259,241 265,108 320,000 5,867 -54,892 BTr Income 54,315 75,236 69,996 20,921 5,240 Others 71,747 95,452 81,308 23,705 14,144
EXPENDITURES 1,522,384 1,557,696 1,711,304 35,312 -153,608 of which: Interest Payments 294,244 278,996 321,597 -15,248 -42,601
SURPLUS/(-)DEFICIT -314,458 -197,754 -300,000 116,704 102,246
FINANCING 351,646 115,263 312,285 -236,383 -197,022 External Borrowings (net) 133,048 51,160 -463 -81,888 51,623 External (gross) 257,357 194,319 191,855 -63,038 2,464 Less: Amortization 124,309 143,159 192,317 18,850 -49,158 Domestic Borrowings (net) 218,598 64,103 312,748 -154,495 -248,645 Domestic (gross) 489,844 364,698 639,019 -125,146 -274,321 Less: Amortization 271,246 300,595 326,271 29,349 -25,676
CHANGE IN CASH 37,166 -79,665 2,844 -116,831 -82,509 Non-Budgetary -22 2,826 -9,441 2,848 12,267 Budgetary 37,188 -82,491 12,285 -119,679 -94,776
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Table 3
ASSESSMENT OF NG DEBT SERVICE (In Million Pesos)
Actual Program Difference Actual Actual vs 2010 2011 2011 2011 vs 2010 Program
INTEREST PAYMENTS 294,244 278,996 321,597 -15,248 -42,601
Domestic 175,673 170,476 202,295 -5,197 -31,819 Regular 175,673 170,476 202,295 -5,197 -31,819 Assumed 0 0 0 0 0
Foreign 118,571 108,520 119,300 -10,051 -10,780 Regular 118,571 108,520 119,299 -10,051 -10,779 Assumed 0 0 1 0 -1
PRINCIPAL PAYMENTS 395,555 443,754 518,587 48,199 -74,833
Domestic 271,246 300,595 326,271 29,349 -25,676 Regular 271,246 300,595 326,271 29,349 -25,676 Assumed 0 0 0 0 0
Foreign 124,309 143,159 192,317 18,850 -49,158 Regular 124,297 143,143 192,302 18,846 -49,159 Assumed 12 16 14 4 2
Total 689,799 722,750 840,185 32,951 -117,435 Domestic 446,919 471,071 528,566 24,152 -57,495 Foreign 242,880 251,679 311,617 8,799 -59,938
*Breakdown of totals may not sum up due to rounding
19
Table 4
NG ASSET POSITION (In Million Pesos)
Increase/ 2010 2011 (-)Decrease
CASH IN BANKS 267,467 187,802 -79,665
SECURITIES PORTFOLIO 170,450 183,338 12,888 Land Bank Bonds 7 6 -1 US Treasuries-Phil. Brady Bonds 728 728 0 Equity Investment 169,715 182,604 12,889
BOND SINKING FUND 665,542 773,075 107,533
SECURITIES STABILIZATION FUND 2,696 2,889 193
SPECIAL GUARANTY FUND 247 262 15
RECEIVABLES 560,203 446,142 -114,061 Accounts Receivables 423,056 308,563 -114,493 Notes Receivables 137,020 137,020 0 Dividend Receivables 127 559 432
ACQUIRED ASSETS 78,476 74,576 -3,900
GRAND TOTAL 1,745,081 1,668,084 -76,997
20
Table 5
NG CASH BALANCE (In Million Pesos)
Increase/ % 2010 2011 (-)Decrease Change
Bureau of the Treasury 2 22 200 1000.00%
Bangko Sentral ng Pilipinas 152,430 55,530 -96,900 -63.57%
Cash in Foreign Banks 728 728 0 0.00%
Philippine National Bank 74 164 900 121.62%
Philippine Veterans Bank 5,108 1,288 -3,8200 -74.78%
Philippine Amanah Bank 95 0 -950 -100.00%
United Coconut Planters Bank 36,442 33,596 -2,846
Land Bank of the Philippines 41,686 59,074 17,3880 41.71%
Development Bank of the Philippines 29,273 35,150 5,8770 20.08%
Other Banks 2,358 2,979 621 26.34%
TOTAL 268,196 188,531 -79,665 -29.70%
21
Table 6
NG OUTSTANDING DEBT (In Million Pesos)
Increase/ % 2010 2011 (-)Decrease Change
FOREIGN DEBT 1,999,969 2,077,831 77,862 3.89%
NG LOANS 828,715 863,541 34,826 4.20%
Direct Loans 828,689 863,530 34,841 4.20% Availed by Agencies 761,711 798,311 36,600 4.80% Relent to GOCCs 66,978 65,219 -1,759 -2.63% Assumed Loans 26 11 -15 -57.69%
NG SECURITIZED LOANS 1,171,254 1,214,290 43,036 3.67%
DOMESTIC DEBT 2,718,202 2,873,357 155,155 5.71%
Direct Loans 2,715,908 2,871,063 155,155 5.71%
Availed by Agencies 6,807 6,799 -8 -0.12% Government Securities 2,709,101 2,864,264 155,163 5.73%
Assumed Loans 2,294 2,294 0 0.00%
TOTAL 4,718,171 4,951,188 233,017 4.94%
Note: Excludes contingent accounts
22
Table 7
INTEREST RATE ON TREASURY BILLS For the Period Indicated
91-day 182-day 364-day
2010
Jan 3.906 4.143 4.610 Feb 3.928 4.161 4.555 Mar 3.880 4.065 4.407 Apr 3.843 4.029 4.398 May 3.853 4.095 4.492 Jun 3.923 4.135 4.596 Jul 3.971 4.230 4.545 Aug 3.951 4.283 4.539 Sep 3.967 4.309 4.475 Oct 3.738 4.068 4.275 Nov 2.440 2.962 3.093 Dec 0.775 1.650 2.393
Average 3.728 3.965 4.265
2011
Jan 0.700 1.563 2.456 Feb 1.655 2.660 3.154 Mar 1.076 1.775 2.878 Apr 0.790 1.052 2.080 May 1.096 0.950 2.032 Jun 2.684 2.444 3.015 Jul 2.404 2.772 3.236 Aug 2.223 2.632 3.008 Sep 0.484 0.682 1.002 Oct 0.000 0.000 1.750 Nov 0.944 1.140 1.079 Dec 1.556 1.830 0.000
Average 1.482 1.810 2.373
-- no auction
23
Table 8
REGIONAL OFFICE OPERATIONS CY 2010 AND CY 2011 (In Million Pesos)
Deposited Fidelity Monitored Regional National Bond MDS Offices Collections Premia Disbursements
2010 2011 Difference 2010 2011 Difference 2010 2011 Difference
NCR 79,228 116,048 36,820 160 163 3 466,295 549,859 83,564 Region 1 4,862 4,079 (783) 20 23 3 62,352 67,605 5,253 Region 2 2,071 1,893 (178) 19 18 -1 38,881 39,829 948 Region 3 8,392 8,760 368 37 35 -2 84,228 67,525 (16,703) Region 4-A 11,295 8,741 (2,554) 39 41 2 48,813 37,848 (10,965) Region 4-B 727 757 30 15 14 -1 12,381 11,733 (648) Region 5 1,748 1,994 246 38 38 0 48,818 47,359 (1,459) Region 6 3,839 3,551 (288) 27 26 -1 55,742 58,873 3,131 Region 7 5,077 5,553 476 27 29 2 43,968 45,998 2,030 Region 8 1,807 1,899 92 41 37 -4 46,558 42,424 (4,134) Region 9 1,211 1,271 60 23 24 1 36,657 38,246 1,589 Region 10 1,650 1,719 69 16 18 2 39,391 35,350 (4,041) Region 11 9,465 10,872 1,407 20 21 1 31,236 35,910 4,674 Region 12 1,284 1,299 15 27 27 0 47,048 54,639 7,591 Caraga 2,059 2,493 434 11 12 1 20,462 22,896 2,434
TOTAL 134,715 170,929 36,214 520 526 6 1,082,830 1,156,094 73,264
24
6.0%
0.8%
0.4%
-0.5%
-0.2%
82.6%
11.4%
21.3%
29.5%
50.9%
16.1%
22.3%
38.4%
42.0%
58.0%
47,277
100.0%
100.0%
564,510
295,069
Dec
4,091,609
4,951,188
2,077,831
2,873,357
4,951,188
…
…
…
…
…
…
6.0%
0.9%
0.5%
0.7%
-1.3%
82.4%
11.6%
42.2%
57.8%
47,535
100.0%
100.0%
571,671
295,549
Nov
4,065,153
4,932,373
2,082,052
2,850,321
4,932,373
…
…
…
…
…
…
6.2%
0.5%
2.0%
0.6%
-1.3%
82.1%
11.7%
42.1%
57.9%
48,144
100.0%
100.0%
571,478
306,480
Oct
4,020,387
4,898,345
2,062,961
2,835,384
4,898,345
6.8%
2.6%
0.9%
1.6%
-0.2%
81.4%
11.8%
21.9%
29.2%
51.1%
16.7%
22.2%
38.8%
42.9%
57.1%
47,881
100.0%
100.0%
575,646
329,739
Sept
3,965,436
4,870,821
2,089,987
2,780,834
4,870,821
…
…
…
…
…
…
7.1%
0.6%
1.3%
0.8%
1.0%
80.9%
12.0%
42.5%
57.5%
47,979
100.0%
100.0%
575,317
341,255
Aug
3,876,928
4,793,500
2,036,719
2,756,781
4,793,500
…
…
…
…
…
…
7.3%
1.2%
-2.0%
-0.8%
-1.3%
80.6%
12.1%
42.4%
57.6%
47,700
100.0%
100.0%
575,125
345,449
July
3,825,573
4,746,147
2,010,567
2,735,580
4,746,147
CY 2011 CY
7.9%
0.1%
0.5%
0.8%
0.7%
78.0%
14.1%
21.9%
29.5%
51.4%
16.6%
22.3%
38.8%
42.6%
57.4%
47,156
100.0%
100.0%
677,201
381,367
June
3,751,537
4,810,105
2,051,292
2,758,813
4,810,105
…
…
…
…
…
…
8.1%
0.7%
1.9%
1.4%
-0.2%
77.7%
14.2%
42.7%
57.3%
47,116
100.0%
100.0%
678,464
385,440
May
3,712,850
4,776,754
2,040,120
2,736,634
4,776,754
…
…
…
…
…
…
8.2%
0.7%
0.7%
0.1%
-0.6%
77.7%
14.1%
43.0%
57.0%
47,232
100.0%
100.0%
663,111
385,200
Apr
3,663,611
4,711,922
2,026,255
2,685,667
4,711,922
8.5%
3.0%
2.4%
0.1%
1.1%
77.4%
14.1%
22.2%
29.0%
51.2%
16.7%
21.8%
38.5%
43.3%
56.7%
46,926
100.0%
100.0%
663,164
399,594
Mar
3,642,869
4,705,627
2,038,955
2,666,672
4,705,627
…
…
…
…
…
…
Table 9
9.4%
-2.7%
-3.6%
-0.4%
-1.8%
75.1%
15.5%
42.8%
57.2%
45,562
100.0%
100.0%
720,769
437,432
Feb
3,497,094
4,655,295
1,991,061
2,664,234
4,655,295
DEBT INDICATORS
…
…
…
…
…
…
9.9%
2.7%
3.3%
0.5%
-1.6%
74.9%
15.2%
43.6%
56.4%
46,843
100.0%
100.0%
720,927
467,205
Jan
3,552,523
4,740,655
2,065,756
2,674,899
4,740,655
9.7%
3.8%
7.3%
73.6%
15.2%
11.2%
22.2%
30.2%
52.4%
16.7%
22.7%
39.4%
42.4%
57.6%
10.0%
45,609
100.0%
100.0%
718,269
527,412
3,472,490
4,718,171
1,999,969
2,718,202
4,718,171
CY 2010 CY
9.1%
6.6%
2.3%
4.2%
68.6%
17.3%
14.1%
24.0%
30.8%
54.8%
18.1%
23.2%
41.3%
43.8%
56.2%
41,566
100.0%
100.0%
760,107
622,258
3,014,275
4,396,640
1,926,599
2,470,040
4,396,640
CY 2009 CY
4.9%
9.7%
62.6%
19.2%
18.3%
23.4%
31.3%
54.7%
18.5%
24.7%
43.2%
42.8%
57.2%
19.5%
13.7%
38,111
100.0%
100.0%
810,103
770,335
2,640,465
4,220,903
1,806,475
2,414,428
4,220,903
CY 2008 CY
5.1%
2.2%
-3.6%
60.2%
23.3%
16.5%
21.9%
31.9%
53.9%
17.5%
25.5%
43.0%
40.7%
59.3%
36,330
-11.0%
100.0%
100.0%
863,872
614,125
2,234,490
3,712,487
1,511,320
2,201,167
3,712,487
CY 2007 CY
(P Million) (P
(P Million) (P
(P Million) (P
P a r t a r s i c u P l a r
Long-term
Medium-term
Short-term
Long-term
Medium-term
Short-term
Foreign
Domestic
Growth rate Growth (%)
% Distribution
Amount pesos in
Foreign
Domestic
Total NG Debt Total
Foreign
Domestic
Total NG Debt Total
Growth rate (%)rate Growth
(US$ Million)
Growth rate (%)rate Growth
Foreign
Growth rate (%)rate Growth
Domestic
By maturity By
% of GDP
% of GNI
% Distribution % Distribution
OUTSTANDING DEBT
A. National Government (NG) Debt Debt (NG) National Government A. NATIONAL GOVERNMENT NATIONAL
25
0
0
121
0.3%
0.0%
0.1%
0.0%
0.3%
8,135
2,294
9,093
58.4%
24.1%
17.2%
99.9%
89.4%
10.3%
70.1%
19.6%
10.3%
27,629
11,392
47,277
47,277
47,277
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
295,069
564,510
295,069
Dec
2,871,063
2,873,357
2,569,195
2,873,357
2,013,778
2,873,357
0
0
125
0.3%
0.0%
0.1%
0.0%
0.3%
7,616
2,294
9,093
59.5%
24.2%
16.0%
99.9%
89.3%
10.4%
69.6%
20.0%
10.4%
28,295
11,499
47,535
47,535
47,535
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
295,549
571,671
295,549
Nov
2,848,027
2,850,321
2,545,679
2,850,321
1,983,101
2,850,321
0
0
2.1%
0.0%
0.1%
0.0%
0.3%
1,013
7,686
2,294
9,091
59.1%
22.9%
15.9%
99.9%
88.9%
10.8%
69.0%
20.2%
10.8%
28,441
11,004
48,144
48,144
48,144
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
306,480
571,478
306,480
Oct
2,833,090
2,835,384
2,519,813
2,835,384
1,957,426
2,835,384
0
0
2.1%
0.0%
0.1%
0.0%
0.3%
1,001
7,684
2,294
9,093
59.2%
22.7%
15.9%
99.9%
87.8%
11.9%
67.4%
20.7%
11.9%
28,335
10,861
47,881
47,881
47,881
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
329,739
575,646
329,739
Sept
2,778,540
2,780,834
2,442,002
2,780,834
1,875,449
2,780,834
0
0
826
1.7%
0.0%
0.1%
0.0%
0.3%
7,519
2,294
9,092
59.3%
23.3%
15.7%
99.9%
87.3%
12.4%
66.7%
20.9%
12.4%
28,445
11,189
47,979
47,979
47,979
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
341,255
575,317
341,255
Aug
2,754,487
2,756,781
2,406,434
2,756,781
1,840,209
2,756,781
0
0
827
1.7%
0.0%
0.1%
0.0%
0.3%
7,333
2,294
9,092
59.6%
23.3%
15.4%
99.9%
87.0%
12.6%
66.4%
21.0%
12.6%
28,428
11,112
47,700
47,700
47,700
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
345,449
575,125
345,449
July
2,733,286
2,735,580
2,381,039
2,735,580
1,815,006
2,735,580
0
0
CY 2011 CY
820
1.7%
0.0%
0.1%
0.0%
0.3%
7,316
2,294
9,042
60.0%
22.8%
15.5%
99.9%
85.9%
13.8%
61.6%
24.6%
13.8%
28,289
10,731
47,156
47,156
47,156
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
381,367
677,201
381,367
June
2,756,519
2,758,813
2,368,404
2,758,813
1,700,245
2,758,813
0
0
842
1.8%
0.0%
0.1%
0.0%
0.3%
7,250
2,294
9,041
60.0%
22.9%
15.4%
99.9%
85.6%
14.1%
61.1%
24.8%
14.1%
28,287
10,737
47,116
47,116
47,116
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
385,440
678,464
385,440
May
2,734,340
2,736,634
2,342,153
2,736,634
1,672,730
2,736,634
0
0
869
1.8%
0.0%
0.1%
0.0%
0.4%
7,295
2,294
9,083
60.0%
22.8%
15.4%
99.9%
85.3%
14.3%
61.0%
24.7%
14.3%
28,324
10,744
47,232
47,232
47,232
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
385,200
663,111
385,200
Apr
2,683,373
2,685,667
2,291,384
2,685,667
1,637,356
2,685,667
0
0
842
1.8%
0.0%
0.1%
0.0%
0.4%
7,284
2,294
9,102
60.2%
22.5%
15.5%
99.9%
84.7%
15.0%
60.1%
24.9%
15.0%
28,228
10,572
46,926
46,926
46,926
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
399,594
663,164
399,594
Mar
2,664,378
2,666,672
2,257,976
2,666,672
1,603,914
2,666,672
0
0
814
1.8%
0.0%
0.1%
0.0%
0.4%
7,267
2,294
9,151
58.7%
23.5%
15.9%
99.9%
83.2%
16.4%
56.5%
27.1%
16.4%
26,723
10,758
45,562
45,562
45,562
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
437,432
720,769
437,432
Feb
2,661,940
2,664,234
2,217,651
2,664,234
1,506,033
2,664,234
0
0
790
1.7%
0.0%
0.1%
0.0%
0.3%
7,329
2,294
9,230
59.7%
22.9%
15.6%
99.9%
82.2%
17.5%
55.6%
27.0%
17.4%
27,957
10,767
46,843
46,843
46,843
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
467,205
720,927
467,205
Jan
2,672,605
2,674,899
2,198,464
2,674,899
1,486,767
2,674,899
0
0
776
1.7%
0.0%
0.1%
0.0%
0.3%
7,315
2,294
9,101
58.6%
23.7%
16.0%
99.9%
80.3%
19.4%
54.2%
26.4%
19.4%
26,710
10,808
45,609
45,609
45,609
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
527,412
718,269
527,412
2,715,908
2,718,202
2,181,689
2,718,202
1,472,521
2,718,202
CY 2010 CY
0
0
944
2.3%
0.0%
0.1%
0.0%
0.4%
9,646
7,246
2,294
9,249
57.1%
23.2%
17.4%
99.9%
74.4%
25.2%
44.0%
30.8%
25.2%
23,730
41,566
41,566
41,566
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
622,258
760,107
622,258
2,467,746
2,470,040
1,838,533
2,470,040
1,087,675
2,470,040
CY 2009 CY
0
0
817
2.1%
0.0%
0.1%
0.0%
0.7%
5,855
2,294
56.1%
26.4%
15.4%
99.9%
67.4%
31.9%
34.5%
33.6%
31.9%
21,370
10,069
38,111
38,111
38,111
15,880
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
770,335
833,990
810,103
770,335
2,412,134
2,414,428
1,628,213
2,414,428
2,414,428
CY 2008 CY
0
0
803
2.2%
0.0%
0.1%
0.0%
1.0%
8,510
5,439
2,294
59.4%
23.4%
15.0%
99.9%
71.1%
27.9%
32.9%
39.2%
27.9%
21,578
36,330
36,330
36,330
22,373
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
614,125
723,170
863,872
614,125
2,198,873
2,201,167
1,564,669
2,201,167
2,201,167
CY 2007 CY
P a r t a r s i c u P l a r
Foreign Debt Securities Debt Foreign
Commercial
Bilateral
Multilateral
Foreign Debt Securities Debt Foreign
Commercial
Bilateral
Multilateral
Long-term
Medium-term
Long-term
Medium-term
Assumed Liabilities a/ Liabilities Assumed
Direct Liabilities
Assumed Liabilities Assumed
Direct Liabilities
Others
Loans
Treasury Bonds
Treasury Bills
Others
Loans
Treasury Bonds/Notes*
Treasury Bills*
Long-term
Medium-term
Short-term
Long-term
Medium-term
Short-term
% distribution
By creditor type ($ Million) type creditor By
% distribution
By maturity ($ million) maturity By
% Distribution
By type of liability type By
% Distribution
By type of borrowing type By
% Distribution
By maturity By DOMESTIC DEBT (P Million) DEBT DOMESTIC
26
..
0
0
0
11
647
0.0%
7.4%
0.0%
0.0%
2.9%
4.8%
2.7%
1.4%
2,250
1,283
24.5%
65.2%
3,505
1,395
49.6%
41.6%
23,449
19,648
47,277
100.0%
100.0%
27,629
19,648
47,277
47,277
100.0%
11,566
30,811
47,277
100.0%
Dec
863,530
1,214,290
2,077,820
2,077,831
..
0
0
0
15
666
0.0%
7.4%
0.0%
0.0%
3.0%
4.7%
4.0%
1.4%
2,257
1,923
25.9%
63.7%
3,518
1,448
49.3%
40.5%
23,449
19,240
47,535
100.0%
100.0%
28,295
19,240
47,535
47,535
100.0%
12,289
30,280
47,535
100.0%
Nov
842,710
1,239,327
2,082,037
2,082,052
..
0
0
0
15
709
0.0%
7.5%
0.0%
0.0%
3.2%
4.8%
4.1%
1.5%
2,308
1,975
26.4%
62.9%
3,604
1,544
48.7%
40.9%
23,449
19,703
48,144
100.0%
100.0%
28,441
19,703
48,144
48,144
100.0%
12,693
30,303
48,144
100.0%
Oct
844,256
1,218,690
2,062,946
2,062,961
0
0
0
15
679
0.0%
7.4%
0.0%
0.0%
3.1%
4.7%
4.1%
1.4%
2,265
1,954
76.7%
26.2%
63.3%
3,549
1,479
49.0%
40.8%
23,437
19,546
47,881
100.0%
100.0%
28,335
19,546
47,881
47,881
100.0%
12,544
30,309
47,881
100.0%
Sept
853,177
1,236,795
2,089,972
2,089,987
..
0
0
0
15
722
0.0%
7.6%
0.0%
0.0%
3.3%
4.9%
4.1%
1.5%
2,329
1,957
26.3%
62.8%
3,651
1,578
48.8%
40.7%
23,437
19,534
47,979
100.0%
100.0%
28,445
19,534
47,979
47,979
100.0%
12,632
30,118
47,979
100.0%
Aug
829,226
1,207,478
2,036,704
2,036,719
..
0
0
0
15
716
0.0%
7.7%
0.0%
0.0%
3.3%
4.9%
4.0%
1.5%
2,346
1,929
26.3%
62.7%
3,673
1,566
49.1%
40.4%
23,437
19,272
47,700
100.0%
100.0%
28,428
19,272
47,700
47,700
100.0%
12,535
29,926
47,700
100.0%
812,329
July
1,198,223
2,010,552
2,010,567
1
0
0
CY 2011 CY
21
722
0.0%
7.6%
0.0%
0.0%
3.3%
4.8%
3.9%
1.5%
2,273
1,858
76.8%
25.6%
63.5%
3,597
1,576
49.7%
40.0%
23,436
18,867
47,156
100.0%
100.0%
28,289
18,866
47,155
47,156
100.0%
12,060
29,923
47,156
100.0%
820,698
June
1,230,573
2,051,271
2,051,292
..
1
0
0
21
714
0.0%
7.6%
0.0%
0.0%
3.4%
4.8%
3.9%
1.5%
2,284
1,853
25.7%
63.3%
3,604
1,569
49.7%
40.0%
23,436
18,829
47,116
100.0%
100.0%
28,287
18,828
47,115
47,116
100.0%
12,100
29,843
47,116
100.0%
May
815,273
1,224,826
2,040,099
2,040,120
..
1
0
0
21
741
0.0%
7.7%
0.0%
0.0%
3.5%
4.9%
3.9%
1.6%
2,305
1,841
25.6%
63.2%
3,652
1,629
49.6%
40.0%
23,437
18,908
47,232
100.0%
100.0%
28,324
18,907
47,231
47,232
100.0%
12,089
29,862
47,232
100.0%
Apr
811,133
1,215,101
2,026,234
2,026,255
1
0
0
21
706
0.0%
7.7%
0.0%
0.0%
3.3%
4.9%
3.9%
1.5%
2,276
1,810
77.0%
25.3%
63.7%
3,595
1,555
49.9%
39.8%
23,436
18,698
46,926
100.0%
100.0%
28,228
18,697
46,925
46,926
100.0%
11,894
29,882
46,926
100.0%
Mar
812,401
1,226,533
2,038,934
2,038,955
..
1
0
0
20
687
0.0%
7.9%
0.0%
0.0%
3.3%
5.1%
4.0%
1.5%
2,263
1,837
26.6%
62.2%
3,579
1,499
48.1%
41.3%
21,936
18,839
45,562
100.0%
100.0%
26,723
18,838
45,561
45,562
100.0%
12,131
28,353
45,562
100.0%
Feb
823,231
1,167,810
1,991,041
1,991,061
..
1
0
0
20
681
0.0%
7.6%
0.0%
0.0%
3.1%
4.8%
3.9%
1.5%
2,242
1,827
25.9%
63.4%
3,567
1,456
49.5%
40.3%
23,207
18,886
46,843
100.0%
100.0%
27,957
18,885
46,842
46,843
100.0%
12,143
29,677
46,843
100.0%
Jan
832,853
1,232,883
2,065,736
2,065,756
1
0
0
26
661
0.0%
5.1%
0.0%
0.0%
3.1%
2.2%
4.0%
1.4%
1,006
1,837
76.0%
26.7%
65.1%
2,308
1,414
50.9%
41.4%
23,207
18,898
45,609
100.0%
100.0%
26,710
18,898
45,608
45,609
100.0%
12,207
29,680
45,609
100.0%
828,689
1,171,254
1,999,943
1,999,969
CY2010
0
1
45
45
99
546
0.0%
3.6%
0.1%
0.2%
4.7%
0.0%
1.3%
4.0%
1,653
75.8%
24.2%
67.2%
1,492
1,959
51.8%
42.9%
21,530
17,837
41,566
100.0%
100.0%
23,730
17,835
41,565
41,566
100.0%
10,062
27,909
41,566
100.0%
826,671
1,099,884
1,926,555
1,926,599
CY 2009 CY
0
1
61
49
550
107
0.0%
3.6%
0.0%
0.3%
4.8%
0.0%
1.4%
4.2%
1,604
70.1%
26.9%
64.3%
1,390
1,832
50.4%
43.9%
19,216
16,741
38,111
100.0%
100.0%
21,370
16,740
38,110
38,111
100.0%
10,238
24,495
38,111
100.0%
793,465
1,012,949
1,806,414
1,806,475
CY 2008 CY
0
2
72
57
440
125
0.0%
3.9%
0.1%
0.3%
5.3%
0.0%
1.2%
4.6%
1,682
66.1%
22.4%
68.0%
1,418
1,915
8,124
53.6%
40.6%
19,456
14,752
36,330
100.0%
100.0%
21,578
14,750
36,328
36,330
100.0%
24,691
36,330
100.0%
897,653
613,595
1,511,248
1,511,320
CY 2007 CY
P a r t a r s i c u P l a r
Assumed Liabilities Liabilities Assumed
Direct Liabilities
Assumed Liabilities a/ Liabilities Assumed
Foreign Debt Securities Debt Foreign
Loans
Direct Liabilities
Assumed Liabilities a/ Liabilities Assumed
Foreign Debt Securities Debt Foreign
Loans
Direct Liabilities
Other currencies
Deutsche Mark
French Franc
Euro
Japanese Yen
US Dollar US
Other currencies
Deutsche Mark
French Franc
Euro
Japanese Yen
US Dollar US
Peso Denominated Bonds Denominated Peso
Yen Bonds Yen
Eurobonds
US DollarBonds/Notes US
Loans
Peso Denominated Bonds Denominated Peso
Yen Bonds Yen
Eurobonds
US Dollar Bonds/Notes Dollar US
Loans
toDebt External
% of NG% Foreign Debt
% distribution
By type of liability (P Million) (P of liability type By
By type of liability ($ Million) of liability type By
% distribution
By type of currency type By
% distribution By type of securities type By
27
2.6%
4.8%
7.4%
12.1%
18.5%
34.6%
53.1%
12.6%
23.5%
36.1%
38.6%
61.4%
34.8%
65.2%
100.0%
100.0%
443,754
278,996
722,750
251,679
471,071
722,750
Total
0.4%
0.3%
0.7%
27.9%
36.8%
26.2%
63.0%
16.0%
11.4%
27.4%
39.6%
60.4%
58.4%
41.6%
41,952
27,489
69,441
40,585
28,856
69,441
Dec
100.0%
100.0%
_
_
_
5.8%
6.5%
5.0%
8,370
19.5%
26.0%
14.9%
19.9%
49.0%
51.0%
25.0%
75.0%
17,044
16,408
33,452
25,082
33,452
Nov
100.0%
100.0%
_
_
_
5.7%
9.8%
7.6%
9.0%
9,690
11.7%
21.5%
16.6%
56.6%
43.4%
45.6%
54.4%
12,657
22,347
10,195
12,152
22,347
Oct
100.0%
100.0%
9.8%
0.2%
0.6%
0.8%
9.7%
15.8%
53.6%
69.4%
33.0%
42.7%
35.7%
64.3%
22.8%
77.2%
46,571
25,835
72,406
16,476
55,930
72,406
100.0%
100.0%
Sept
_
_
_
9.0%
9.4%
12.6%
46.3%
59.0%
34.4%
43.8%
28.6%
71.4%
21.4%
78.6%
52,280
20,906
73,186
15,679
57,507
73,186
Aug
100.0%
100.0%
_
_
_
4.5%
1,948
11.6%
20.6%
19.8%
40.3%
16.2%
15.6%
31.9%
95.5%
51.0%
49.0%
41,199
43,147
21,988
21,159
43,147
July
100.0%
100.0%
CY 2011 CY
5.9%
0.1%
0.1%
0.3%
9.2%
7,073
10.5%
13.2%
23.7%
11.5%
20.7%
70.3%
29.7%
44.3%
55.7%
16,705
23,778
10,529
13,249
23,778
100.0%
100.0%
June
_
_
_
4.5%
6.6%
5.3%
7,902
22.3%
28.9%
18.0%
23.3%
45.1%
54.9%
22.8%
77.2%
19,060
15,645
34,705
26,803
34,705
May
100.0%
100.0%
_
_
_
5.3%
7.1%
6.0%
8.3%
7.0%
6,791
9,854
8,369
13.2%
15.3%
62.7%
37.3%
54.1%
45.9%
11,432
18,223
18,223
Apr
100.0%
100.0%
9.2%
0.2%
0.8%
1.0%
9.5%
16.2%
67.6%
83.8%
39.7%
49.2%
36.5%
63.5%
19.3%
80.7%
57,021
32,732
89,753
17,354
72,399
89,753
Mar
100.0%
100.0%
_
_
_
43.3%
91.5%
54.1%
37.4%
22.1%
59.5%
19.0%
81.0%
62.8%
37.2%
94,365
22,151
73,197
43,319
Feb
145.6%
100.0%
100.0%
116,516
116,516
_
_
_
9.2%
11.1%
14.4%
78.2%
92.6%
50.0%
59.2%
28.5%
71.5%
15.5%
84.5%
89,959
35,837
19,550
100.0%
100.0%
Jan
125,796
106,246
125,796
2.7%
5.0%
7.7%
10.7%
20.1%
37.0%
57.1%
12.7%
23.3%
36.0%
42.7%
57.3%
35.2%
64.8%
100.0%
100.0%
395,555
294,244
689,799
242,880
446,919
689,799
CY2010
2.7%
5.1%
7.8%
11.4%
19.0%
36.4%
55.4%
12.1%
23.2%
35.3%
44.8%
55.2%
34.2%
65.8%
100.0%
100.0%
343,421
278,866
622,287
213,052
409,235
622,287
CY2009
8.2%
2.4%
5.6%
7.9%
15.2%
35.8%
50.9%
11.3%
26.7%
38.0%
44.4%
55.6%
29.7%
70.3%
100.0%
100.0%
340,464
272,218
612,682
182,257
430,425
612,682
CY2008
7.5%
2.5%
6.4%
8.9%
15.2%
38.8%
54.0%
11.6%
29.5%
41.1%
43.6%
56.4%
28.1%
71.9%
100.0%
100.0%
346,269
267,800
614,069
172,832
441,237
614,069
CY2007
as % of Exports** % as
P a r t a r s i c u P l a r
Foreign Foreign
Domestic
Total Debt Service Debt Total
Foreign Foreign
Domestic
Total Debt Service Debt Total
Foreign Foreign
Domestic
Total Debt Service Debt Total
Interest Payments
Principal Payments Principal
Foreign
Domestic
% distribution
% distribution
Foreign
Domestic
B. National Government Debt Service Debt B. National Government
NG Foreign Debt Service
As % of GDP % As
As % of NG Revenues % As
As % of NG Expenditures+Principal % As
Principal Payments Principal
Interest Payments
TotalDebt Service TOTAL DEBT SERVICE (P Million) (P TOTAL DEBT SERVICE
28
7.0%
43.32
32.3%
67.7%
10.9%
17.9%
38.9%
61.1%
100.0%
100.0%
143,159
300,595
443,754
108,520
170,476
278,996
Total
3.6%
9.4%
43.95
8,945
7,578
78.7%
21.3%
13.0%
27.6%
72.4%
33,007
41,952
19,911
27,489
Dec
100.0%
100.0%
1.4%
9.5%
43.80
6,215
2,155
36.5%
63.5%
10.9%
13.1%
86.9%
10,829
17,044
14,253
16,408
Nov
100.0%
100.0%
5.9%
4.2%
42.85
2,809
6,881
9,690
7,386
5,271
29.0%
71.0%
10.1%
58.4%
41.6%
12,657
Oct
100.0%
100.0%
8.0%
43.65
6,596
9,880
14.2%
85.8%
13.0%
21.0%
38.2%
61.8%
39,975
46,571
15,955
25,835
100.0%
100.0%
Sept
6.8%
42.45
7,918
7,761
15.1%
84.9%
11.4%
18.2%
37.1%
62.9%
44,362
52,280
13,145
20,906
Aug
100.0%
100.0%
700
42.15
1,248
1,948
64.1%
35.9%
15.5%
15.3%
30.9%
50.3%
49.7%
20,740
20,459
41,199
July
100.0%
100.0%
CY 2011 CY
655
9.3%
3.8%
43.50
6,418
7,073
4,111
90.7%
11.7%
15.5%
24.6%
75.4%
12,594
16,705
100.0%
100.0%
June
1.7%
43.30
5,667
2,235
29.7%
70.3%
10.3%
12.1%
14.3%
85.7%
13,393
19,060
13,410
15,645
May
100.0%
100.0%
6.6%
3.6%
42.90
2,471
4,320
6,791
7,383
4,049
36.4%
63.6%
10.2%
64.6%
35.4%
11,432
Apr
100.0%
100.0%
8.8%
43.45
6,304
11.1%
88.9%
17.3%
26.1%
33.8%
66.2%
50,717
57,021
11,050
21,682
32,732
Mar
100.0%
100.0%
9.9%
43.70
67.0%
33.0%
12.0%
21.8%
45.2%
54.8%
63,190
31,175
94,365
10,007
12,144
22,151
Feb
100.0%
100.0%
1.5%
44.10
1,316
98.5%
14.9%
14.4%
29.3%
50.9%
49.1%
88,643
89,959
18,234
17,603
35,837
100.0%
100.0%
Jan
7.8%
43.85
31.4%
68.6%
11.5%
19.3%
40.3%
59.7%
100.0%
100.0%
124,309
271,246
395,555
118,571
175,673
294,244
CY2010
8.0%
46.35
28.8%
71.2%
11.6%
19.6%
40.9%
59.1%
98,889
100.0%
100.0%
244,532
343,421
114,163
164,703
278,866
CY2009
8.0%
47.40
23.6%
76.4%
13.4%
21.4%
37.4%
62.6%
80,513
100.0%
100.0%
259,951
340,464
101,744
170,474
272,218
CY2008
9.6%
41.60
18.0%
82.0%
13.7%
23.3%
41.3%
58.7%
62,252
100.0%
100.0%
284,017
346,269
110,580
157,220
267,800
CY2007
Not yet available Not yet
Foreign Principal Payments Principal Foreign
Domestic Principal Payments Domestic Principal
Foreign Interest Payments Foreign
Domestic Interest Payments Domestic
Total Interest Payments Total
Foreign Interest Payments Foreign
Domestic Interest Payments
P a r t a r s i c u P l a r
- Resulting figures comparable are not - Resulting
Includes issuances CB-BOL Includes to
% distribution
Foreign
Domestic
% distribution
Foreign
Domestic
Assumed loans of DBP, NPC, PNB, PNPP, NDC, TIDCORP, Assumed PNPP, PAL PNB, NPC, of loans DBP,
Note: Based on the revised /rebased GDP and GNI GDP and /rebased revised the on Based Note:
Forex Rate Used (P/US$) Forex Used (P/US$) Rate
** - NS0 not BSP source BSP not - NS0 **
* - *
...
.. -
TotalPayments Principal
As % of NG Expenditures % As
TotalInterest Payments a/
29
136
3,764
412,021
415,785
157,451
157,587
573,372
Dec
5,524,560
4,951,188
136
3,752
413,680
417,432
161,130
161,266
578,698
Nov
5,511,071
4,932,373
136
3,672
412,703
416,375
161,319
161,455
577,830
Oct
5,476,175
4,898,345
136
3,739
418,192
421,931
161,320
161,456
583,387
Sept
5,454,208
4,870,821
136
3,648
409,646
413,294
161,320
161,456
574,750
Aug
5,368,250
4,793,500
136
3,622
421,348
424,970
161,508
161,644
586,614
July
5,332,761
4,746,147
136
CY 2011 CY
3,738
427,559
431,297
163,509
163,645
594,942
June
5,405,047
4,810,105
136
3,720
426,932
430,652
138,510
138,646
569,298
May
5,346,052
4,776,754
136
3,688
91,510
91,646
423,357
427,045
518,691
Apr
5,230,613
4,711,922
136
3,733
91,511
91,647
429,751
433,484
525,131
Mar
5,230,758
4,705,627
136
3,754
441,716
445,470
100,311
100,447
545,917
Feb
5,201,212
4,655,295
136
3,787
445,511
449,298
100,312
100,448
549,746
Jan
5,290,401
4,740,655
136
3,765
445,595
449,360
100,312
100,448
549,808
5,267,979
4,718,171
CY 2010 CY
136
3,982
79,519
79383**
530,633
534,614
614,133
5,010,773
4,396,640
CY 2009 CY
136
4,069
72,769
72,905
468,603
472,672
545,577
4,766,480
4,220,903
CY 2008 CY
136
3,758
64,832
64,968
415,458
419,216
484,184
4,196,671
3,712,487
CY 2007 CY
P a r t a r s i c u P l a r
Assumed GFI Guarantee
NG Direct Guarantee NG Direct Guarantee
Assumed GFI Guarantee
NG Direct Guarantee NG Direct Guarantee
Breakdown of totals may not sum up due to rounding.
Foreign
Domestic
Note:
TotalNG Outstanding Debt
Actual NG Outstanding Debt Actual
Memo Item: Memo
T O T A L T O T A
(including Contingent Liabilities)
National Government Outstanding Contingent Debt* Outstanding Contingent National Government
** Includes P7M HGC Guaranty (PAG-IBIG Housing Bonds) HGC Guaranty Housing (PAG-IBIG P7M Includes **
*NG Direct and NG Assumed Guaranteed only. NG Guaranteed Assumed *NG Direct and
(In Million Pesos) Million (In As of the Period Indicated As of Period the
30
BUREAU OF THE TREASURY DIRECTORY OF OFFICIALS CENTRAL OFFICE
TELEPHONE NUMBER/S NAME/OFFICE/SUBSECTOR ADDRESS E-MAIL ADDRESS (567-5480-Trunkline) Direct Line Local
ROBERTO B. TAN 3/F Palacio del Gobernador [email protected] 527-3184 304; 320 Treasurer of the Philippines Gen. Luna St., Intramuros, Manila 527-3179 (TF)
SUBSECTOR FOR LIABILITY MANAGEMENT AND INFORMATION SYSTEMS MANAGEMENT
EDUARDO S. MENDIOLA 2/F Palacio del Gobernador [email protected] 527-31-83 (TF) 204 Deputy Treasurer of the Philippines Gen. Luna St., Intramuros, Manila
MA. NANETTE C. DIAZ 2/F Palacio del Gobernador [email protected] 527-7090 202; 208 Director III Gen. Luna St., Intramuros, Manila 527-2782 (F) Liability Management Service
Zenaida M. Roxas 2/F Palacio del Gobernador [email protected] 220; 231 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila Payments Division
Irene A. Jonson 2/F Palacio del Gobernador [email protected] 205; 206 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila Debt Monitoring and Analysis Division
Ednaliza B. Bona 2/F Palacio del Gobernador [email protected] 527-2827 207 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila 527-3132 Secuirties Origination Division
Scripless Securities Registration Division 2/F Palacio del Gobernador [email protected] 527-3076 218 Gen. Luna St., Intramuros, Manila 527-2785
REGILITO L. TAMAYO 4/F Palacio del Gobernador [email protected] 527-6260 403; 420 OIC-Director Gen. Luna St., Intramuros, Manila Mngt. Information System Service
Regilito L. Tamayo 4/F Palacio del Gobernador [email protected] 419 OIC-Director & Concurrent CTOO II Gen. Luna St., Intramuros, Manila Systems Development Division
Gabriel L. Mirto 4/F Palacio del Gobernador [email protected] 527-6846 424 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila Hardware Maintenance Division
Wilfredo L. Yatco 4/F Palacio del Gobernador [email protected] 527-6262 414; 415 Officer-In-Charge Gen. Luna St., Intramuros, Manila 416 Database Administration Division and Systems Administration Division
SUBSECTOR FOR LEGAL SERVICES, ADMINISTRATION AND ASSET MANAGEMENT
ATTY. GISELA F. LOOD 4/F Palacio del Gobernador [email protected] 527-2791 (TF) 401; 405 Deputy Treasurer of the Philippines Gen. Luna St., Intramuros, Manila
ATTY. WILLIAM A. BELUSO, JR. 3/F Palacio del Gobernador [email protected] 525-0029 (TF) 301; 321 OIC-Director Gen. Luna St., Intramuros, Manila Legal Service
Atty. Dennis I. Madrigal 3/F Palacio del Gobernador [email protected] 309 Attorney V Gen. Luna St., Intramuros, Manila
Atty. Tyrone Val F. Brotarlo 3/F Palacio del Gobernador [email protected] 310 Attorney V Gen. Luna St., Intramuros, Manila
31
Homer L. Soliven G/F Palacio del Gobernador [email protected] 527-2810 104 Officer-In-Charge Gen. Luna St., Intramuros, Manila Internal Security Division Melanio C. Lacuata 4/F Palacio del Gobernador 418 Officer-In-Charge Gen. Luna St., Intramuros, Manila Internal Audit Division
ATTY. RAYMUNDO U. TAN 6/F Palacio del Gobernador [email protected] 527-5641 (TF) 624 OIC-Director Gen. Luna St., Intramuros, Manila 8610 Administrative Service
Victorenia B. Tarriga 2/F Palacio del Gobernador [email protected] 528-0892 622; 623 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila Property and Supply Management Div.
Teresita F. Pecayo 6/F Palacio del Gobernador [email protected] 102 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila Central Records Mngt. Division
Loreto O. Hidalgo 6/F Palacio del Gobernador [email protected] 605; 606 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila Facilities Maintenance Division
Atty. Ma. Victoria Y. Yambao-Patinio 6/F Palacio del Gobernador [email protected] 613; 616 Officer-In-Charge Gen. Luna St., Intramuros, Manila 620 Human Resource Mngt. Division
MARCELA S. SALAZAR 2/F Palacio del Gobernador [email protected] 527-3103 203; 207 Director III Gen. Luna St., Intramuros, Manila Asset Management Service
Amparo S. Abad 2/F Palacio del Gobernador [email protected] 527-2794 214; 215 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila 527-6570 Receipts, Investment & Disbursement Div.
Aurora S. Marcelino 2/F Palacio del Gobernador [email protected] 527-3078 211;212 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila 527-3118 Fund Transfer Division
Imelda G. Dinglasan 2/F Palacio del Gobernador [email protected] 209; 210 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila Fund Validation Division
Amorfina B. Reyes G/F Palacio del Gobernador [email protected] 106 Officer-In-Charge Gen. Luna St., Intramuros, Manila Cash and Custodial Division
SUBSECTOR FOR PLANNING, POLICY AND ACCOUNTING
CHRISTINE L. SANCHEZ 6/F Palacio del Gobernador [email protected] 527-3083 604; 608 Deputy Treasurer of the Philippines Gen. Luna St., Intramuros, Manila
FILEMON D. CONDINO 4/F Palacio del Gobernador [email protected] 527-3114 421 OIC-Director Gen. Luna St., Intramuros, Manila Research Service
Filemon D. Condino 4/F Palacio del Gobernador [email protected] 412; 425 OIC-Director & Concurrent Chief Gen. Luna St., Intramuros, Manila Fiscal Planning and Assessment Division
Norma G. Abelgas 4/F Palacio del Gobernador [email protected] 410 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila Operations Planning Division
Salvacion C. Rios 4/F Palacio del Gobernador [email protected] 527-3082 411 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila Bureau Budget Division
32
Elizabeth P. Awayan 4/F Palacio del Gobernador [email protected] 413 Officer-In-Charge Gen. Luna St., Intramuros, Manila Statiscal Data Analysis Division
Rafael C. Santos 4/F Palacio del Gobernador [email protected] 406; 407 Officer-In-Charge Gen. Luna St., Intramuros, Manila Financial Market Monitoring & Analysis Div.
PRUDENCIO C. BORLAZA 6/F Palacio del Gobernador [email protected] 527-3080 603; 621 OIC-Director Gen. Luna St., Intramuros, Manila Accounting Service
Marites B. Masarap 6/F Palacio del Gobernador [email protected] 614 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila National Gov't. Debt Accounting Division
Avelina H. Zumarraga 6/F Palacio del Gobernador [email protected] 607 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila Miscellaneous Accounts Accounting Div.
Carol D. Jorge 6/F Palacio del Gobernador [email protected] 611; 612 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila Bureau Accounting Division
Ma. Luisa C. Estrella 6/F Palacio del Gobernador [email protected] 527-2793 617; 618 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila National Cash Accounting Division
REGIONAL/PROVINCIAL OFFICES
MERLITA B. MENDIOLA 3/F Palacio del Gobernador [email protected] 527-2786 302 Director II Gen. Luna St., Intramuros, Manila National Capital Region
Florence B. Almadrigo 3/F Palacio del Gobernador [email protected] 318 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila
Editha D. Lim 3/F Palacio del Gobernador [email protected] 314 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila District I
Juanita B. Guzman 3/F Palacio del Gobernador [email protected] 315;316 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila District II
Rolito M. Limbago 3/F Palacio del Gobernador [email protected] 317;319 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila District III
ROSALINDA G. VALDEZ 2/F P&G Building, Mabini St. [email protected] (072) 242-1702 OIC-Director Catbangen, San Fernando City [email protected] (072) 700-4434 Region I 2500 La Union [email protected] 09183156971
Rolando S. Dizon 2/F P&G Building, Mabini St. [email protected] (072) 242-4434 Officer-In-Charge Catbangen, San Fernando City 09399135308 La Union Provincial Office 2500 La Union
Rowena Viejo Ilocanos Heroes Memorial Hall [email protected] (077) 771-5287 Treasury Operations Officer IV 2900 Laoag City 09279401915 Ilocos Norte Provincial Office
Eugene T. Paytoc Singson-Amorin Bldg. [email protected] (077) 722-1792 Chief Treasury Operations Officer II M.H. Del Pilar St. 09266903907 Ilocos Sur Provincial Office 2700 Vigan City
33
Cesar D. Gavina Siapno-Caguioa Bldg. [email protected] (075) 515-6626 Officer-In-Charge Perez Blvd. Cor. Rizal St. 09174108141 Pangasinan Provincial Office 2400 Dagupan City
Elenita Basco Lyman Ogilby Centrum [email protected] (074) 445-3591 Treasury Operations Officer IV Magsaysay Ave. 09207849900 Benguet Provincial Office 2600 Baguio City
Kathelyn Z. Turqueza 3/F Balbin Bldg. II [email protected] (074) 752-8007 Chief Treasury Operations Officer II Cor. Taft & Actividad Economia St. 09178614729 Abra Provincial Office Zone IV Bangued, Abra
Evelyn F. Abad Petra Macliing Bldg. [email protected] (074) 602-1326 Chief Treasury Operations Officer II Poblacion, Bontoc 091850177187 Mt. Province Provincial Office Mt. Province
EDRALIN P. DELA CRUZ 2/F Sychangco Bldg. [email protected] (078) 844-1655 OIC-Director A. Bonifacio St., Tuguegarrao City [email protected] (078) 846-0959 Region II Cagayan 09285070815
Corazon A. Lacambra 2/F Sychangco Bldg. [email protected] (078) 846-4925 Chief Treasury Operations Officer II A. Bonifacio St., Tuguegarrao City 09109449931 Cagayan Provincial Office Cagayan
Evelyn A. Opiña 2/F Tomagan Bldg. [email protected] (078) 622-2905 Chief Treasury Operations Officer II Calamagui, Ilagan 09189591492 Isabela Provincial Office Isabela
Ma. Lourdes R. Galera G/F Grapevine Comn [email protected] (078) 321-2087 Chief Treasury Operations Officer II Dumlao Blvd., Bayombong 09209696513 Nueva Vizcaya Provincial Office Nueva Vizcaya
Nida W. Balacang 2/F Lua Bldg., Mayangao St. [email protected] 09108524141 In-Charge of Office Poblacion, Tabuk Kalinga-Apayao Provincial Office Kalinga
Leonora Agoc Stall No. 01, ABC Bldg. [email protected] (074) 382-2128 Officer-In-Charge Lagawe, Ifugao 09182858598 Ifugao Provincial Office
Leonora Agoc G/F Wee Bldg., San Marcos [email protected] (078) 692-5095 Officer-In-Charge Cabarroguis, Quirino (078) 692-5065 Quirino Provincial Office
Nora J. Gavina G/F Ivatan Lodge Na [email protected] 09202620343 Treasury Operations Officer IV Kaychanarianan, Basco Batanes Provincial Office Batanes
EDUARDO S. OCAMPO 3/F Brothers Five Bldg. [email protected] (045) 961-2158 OIC-Director Dolores, San Fernando City [email protected] 09277952213 Region III Pampanga
Alma F. Gagui 3/F Brothers Five Bldg. [email protected] (045) 961-2145 Chief Treasury Operations Officer II Dolores, San Fernando City 09151324676 Pampanga Provincial Office Pampanga
Myrna R. De Guzman Provincial Capitol Compound [email protected] (044) 760-2242 Officer-In-Charge Malolos City, Bulacan 09395969274 Bulacan Provincial Office
Eufronio V. Valdez, Jr. Pailla-Sta. Ana Bldg. [email protected] (044) 463-2012 In-Charge of Office Del Pilar cor. Calderon Sts. 09166115145 Nueva Ecija Provincial Office Cabanatuan City
Florante G. Padilla 201 CRAJJ-P Bldg. Prim Rose St. [email protected] (047) 237-3127 Chief Treasury Operations Officer Dona Francisca Subd. 09186484238 Bataan Procincial Office Balanga City
34
Anna Antonia A. Reyes 3/F Ley Anne Bldg. [email protected] (045) 982-4904 Chief Treasury Operations Officer II P. Hilario St., Brgy. Ligtasan 09155613425 Tarlac Provincial Office Tarlac City
Rhodora B. Manzanida 3/F Villagracia Bldg [email protected] (047) 222-4914 Officer-In-Charge West Bajac-Bajac 09065251603 Zambales Provincial Office Olongapo City
MARITES P. AGUINALDO 2/F Star Honda Bldg. [email protected] (049) 545-5951 OIC-Director Parian, Calamba City [email protected] 09272417884 Region IV-A 4027 Laguna
Antonio H. Eco, Jr. 2/F Star Honda Bldg. [email protected] (049) 545-5617 Chief Treasury Operations Officer II Parian, Calamba City 09277799112 Laguna Provincial Office 4027 Laguna
Marcelino C. Dalawampu 2/F P & C Bldg. [email protected] (043) 723-4052 Chief Treasury Operations Officer II Noble cor. Canlapan Sts. 09272417874 Batangas Provincial Office Batangas City
Nancy E. Bernales 2/F Exodus Bldg. [email protected] (046) 471-4086 Chief Treasury Operations Officer II Nueno Ave., Imus 09272417860 Cavite Provincial Office Cavite
Emiliana L. Quizon 2/F Grand Terminal Bldg. [email protected] (042) 710-2195 Chief Treasury Operations Officers II Babong Dupay 09272407688 Quezon Provincial Office Lucena City
Edwina R. Hidalgo 2/F JEK Bldg. [email protected] (02) 656-6178 Chief Treasury Operations Officer II Ortigas Ave. Ext. [email protected] (02) 655-7553 Rizal Provincial Office Cainta, Rizal 09272417883
LUCILE M. LOPEZ 4/F Insular Life Bldg. [email protected] (043) 722-2349 OIC-Director Hilltop, Batangas City [email protected] (043) 980-5506 Region IV-B 09175048825
Jeremias B. Kagakit Florers Bldg., 51 St. [email protected] (043) 711-5256 Chief Treasury Operations Officer II Brgy. 3, Mamburao 09175048833 Occ. Mindoro Provincial Office Occidental Mindoro
Leticia F. Mauro DBP Bldg., Brgy. Sto. Niño [email protected] (043) 288-1207 Chief Treasury Operations Officer II Calapan City 09175048827 Or. Mindoro Provincial Office
Edgar C. Maduro 357 Rizal Ave. [email protected] (048) 433-2856 Officer-In-Charge Puerto Princesa City 09175048828 Palawan Provincial Office Palawan
Virginia L. Mangui 2/F Vidal Bldg. [email protected] (042) 332-1507 Chief Treasury Operations Officer II No. 1 de Noviembre St. 09175048826 Marinduque Provincial Office San Miguel, Boac, Marinduque
Virginia B. Fabrigar JEN & L Bldg. [email protected] (042) 567- 5764 Chief Treasury Operations Officer II Washington St., Brgy. Tabin Dagat 09175048829 Romblon Provincial Office Odiongan, Romblon MARISA C. BAUTISTA 3/F D" Executive Bldg. [email protected] (052) 820-3320 OIC-Director Barangay Pinago (052) 480-6717 Region V Legaspi City 09198148982
Marisa C. Bautista 3/F D' Executive Bldg. [email protected] (052) 480-9813 OIC-Director & Concurrernt CTOOII Barangay Pinago 09198148982 Albay Provincial Office Legaspi City Ma. Dalisay G. Bernardo Magallanes Iraya [email protected] (054) 721-4001 Chief Treasury Operations Officer II Daet, Camarines Norte 09275462126 Camarines Norte Provincial Office
35
Jose Cyril T. Panambo Arana St. cor. Hernandez Ave. [email protected] (054) 811-6122 Chief Treasury Operations Officer II Naga City 09214299815 Camarines Sur Provincial Office
Benjamin D. Garcia Virac, Catanduanes [email protected] (052) 811-1622 Chief Treasury Operations Officer II 09183877735 Catanduanes Provincial Office
Raul A. Berja Espinosa Bldg. [email protected] (056) 333-2258 Chief Treasury Operations Officer II Mabini St., Masbate City 09208018834 Masbate Provincial Office
Minerva J. Hina Pena Bldg., Burgos St. [email protected] (056) 211-1829 Officer-In-Charge Sorsogon City 09195529780 Sorsogon Provincial Office
JULIET A. ALFECHE 2/F 156 RC Building [email protected] (033) 509-9805 OIC-Director Rizal St., Iloilo City [email protected] (033) 335-0135 Region VI 09163119515 Leah Sarah G. Paulite 2/F 156 RC Building [email protected] (033) 335-0838 Chief Treasury Operations Officer II Rizal St., Iloilo City [email protected] (033) 509-9805 Iloilo Provincial Office 09189426359
Bernadette F. Ang Irao-Lota Bldg., [email protected] (036) 500-9653 Officer-In-Charge Toting Reyes St. 09228975920 Aklan Provincial Office Kalibo 5600 Aklan
Shirley D. Flores 2/F Joseph Bldg. [email protected] (036) 540-9833 Officer-In-Charge Gov. Villaverti cor. Gen. Fullon Sts. 09162542073 Antique Provincial Office San Jose, Antique
Circumsision S. Alberca 2/F Fuentes Bldg. [email protected] (036) 522-3515 Officer-In-Charge Fuentes St.,Roxas City 09273157049 Capiz Provincial Office Capiz
Eloisa L. Avila 2/F Uy Kang Ha Bldg. [email protected] (034) 709-6932 Officer-In-Charge Burgos-Lacson Sts. 09196084840 Negros Occ. Provincial Office Bacolod City
ATTY. PHILIPS JOSE P. DELA TORRE 2/F DBP Bldg., Osmena Blvd. [email protected] (032) 254-3308 OIC-Director Cebu City [email protected] (032) 412-3502 Region VII 09189213630
Yolanda P. Aclan 2/F DBP Bldg., Osmena Blvd. [email protected] (032) 255-7635 Chief Treasury Operations Officer II Cebu City (032) 254-8167 Cebu Provincial Office 09209827211
Nelita P. Ledesma Plaza Dona Milagros Bldg. [email protected] (035) 422-6010 Chief Treasury Operations Officer II Percides St., Dumaguete City 09209827206 Negros Oriental Provincial Office
Victoria C. Lerias 40 Airport Road [email protected] (038) 411-2891 Chief Treasury Operations Officer II Tagbilaran City [email protected] (038) 411-3662 Bohol Provincial Office 09209827205
CRISPIN B. BANZON, JR. 3/F Phil. Veterans Bank Bldg. [email protected] (053) 523-0280 Director II Justice Romualdez St. [email protected] (053) 523-0290 Region VIII 6500 Tacloban City 09173045688
Jose L. Palomino 3/F PVB Bldg. [email protected] (053) 523-9020 Chief Treasury Operations Officer II Justice Romualdez St. (053) 321-2005 Northern Leyte Provincial Office Tacloban City 09173044868
Mercedes B. Pangilinan DCPS Bldg. [email protected] (055) 500-9045 Chief Treasury Operations Officer II J.P. Rizal St.,Catarman 09173044867 Northern Samar Provincial Office Northern Samar
36
Carlota C. Manocsoc N. Alvarez, Alcantara St. [email protected] (053) 570-9065 Chief Treasury Operations Officer II Manhatan, Maasin 09173044870 Southern Leyte Provinciial Office Leyte
Aurora S. Laguilles UCCP Dorcas Bldg. [email protected] (055) 543-9005 Chief Treasury Operations Officer II Arteche Blvd. [email protected] 09173044866 Western Samar Procincial Office Catbalogan, Samar
Ruben D. Polidario Cecilia Obena Bldg [email protected] (055) 56-9578 Chief Treasury Operations Officer II Abinis St.m Brgy. Baybay 09173044869 Eastern Samar Provincial Office Borongan, Eastern Samar
EVELYN B. LAGUE Ras Bldg., Chico Hills [email protected] (062) 215-4156 Director II Bulatok St., Tuburan District [email protected] 09052543109 Region IX Pagadian City [email protected]
Miriam R. Gallebo City Government Complex [email protected] (062) 991-2092 Chief Treasury Operations Officers II Pettit Barracks 09282384789 Zamboanga del Sur I Zamboanga City, 7000
Valentino M. Simbajon RAS Bldg., Chico Hills [email protected] (062) 215-1536 Chief Treasury Operations Officer II Bulatoc St., Tuburan District [email protected] 09213847479 Zamboanga del Sur II Zamboanga del Sur, 7016
Luzviminda A. Quijano Door 2, R-5 Ticson Bldg. [email protected] 09206677841 Officer-In-Charge Tubig Boh, Bongao Tawi-Tawi Provincial Office Tawi-tawi, 7500
Lorenzo E. Jauculan 2/F Simbajon Bldg. [email protected] (065) 212-2666 Chief Treasury Operations Officer II 037 Burgos St., Dipolog City 09268539383 Zamboanga del Norte Provincial Office Zamboanga del Norte, 7100
Julie P. Cardozo M. Hizon Bldg. [email protected] (062) 200-3579 Chief Treasury Operations Officer I Valderosa St., Isabela City 09088640273 Basilan Provincial Office Basilan, 7300
Jocel R. Llanda Marina St. [email protected] 09151943310 Chief Treasury Operations Officer II Jolo, Sulu, 7400 Sulu Provincial Office
ROGIE S. GADIAN 2/F Jugador Bldg. [email protected] (0882) 272-7798 OIC - Director Cor. Gaerlan-Velez Sts. [email protected] (088) 857-1578 Region X 9000 Cagayan de Oro City [email protected] 09279433410
Rogie S. Gadian 2/F Jugador Bldg. [email protected] (0882) 272-7798 OIC-Director & Concurrent CTOOII Cor. Gaerlan-Velez Sts. 09393995672 Misamis Oriental Provincial Office Cagayan De Oro City
Felixberto J. Roxas, Jr. 2/F Torion Bldg., Lacas [email protected] (088) 387-0251 Chief Treasury Operations Officer II Mambajao, Camiguin 09396285278 Camiguin Provincial Office
Dexie F. Nericua 3/F Ortega Bldg. [email protected] (088) 521-2812 Officer-In-Charge Mabini St., Ozamiz City 09205626706 Misamis Occ. Provincial Office
Lucelia P. Salibio 2/F Aking Bldg., Fortich St. [email protected] (088) 813-4007 Officer-In-Charge Malaybalay City, Bukidnon 09187393101 Bukidnon Provincial Office
CLARA G. AURELIO 2/F Old COA Bldg. [email protected] (082) 300-3619 Director II Cor. Gen. Luna & Quinto Sts. [email protected] (082) 222-3689 Region XI Davao City 09285015703
37
Milagros S. Rendon Santiago Boulevard [email protected](083) 552-1183 Chief Treasury Operations Officer II General Santos City 09192332765 Saranggani Provincial Office
Liza N. Pabularcon 3/F Old COA Bldg. [email protected] (082) 300-3619 Chief Treasury Operations Officer II Cor. Gen. Luna & E. Quirino Sts. [email protected] (082) 224-0285 Davao del Sur Davao City 09285214812
Corazon G. Nuqui Door III, Roche Bldg. [email protected] (087) 811-3130 Officer-In-Charge A. Mabini, Andravel 09228404840 Davao Oriental Provincial Office City of Mati, Davao Oriental
Elizabeth M. Sarabia Door 25, Suarez Plaza Bldg. [email protected] (084) 400-3051 Chief Treasury Operations Officer II Sobrecarey St., 09203742825 Davao del Norte/Compostela Valley Tagum City Provincial Office
Ma. Leticia R. Suribas 2/F JAYVEN Bldg. [email protected] (083) 228-2424 Chief Treasury Operations Officer II General Santos Drive cor. 09169360528 South Cotabato Provincial Office Posadas St., Koronadal City
CLARA G. AURELIO 2/F Javier Bldg. [email protected] (083) 228-8864 Concurrent Director II Gen. Santos Drive cor. Posadas St [email protected] 09285015703 Region XII Koronadal City
Nornisa G. Datudacula 5/F CYM Bldg. [email protected] (064) 421-4514 Officer-In-Charge Don Rufino Bldg., Alonzo St. 09163380770 Maguindanao Provincial Office Cotabato City
Ramon V. Dela Cruz, Jr. 2ndF LBP Bldg. [email protected] (064) 288-5218 Chief Treasury Operations Officer II National Highway, Isulan 09216839759 Sultan Kudarat Provincial Office Sultan Kudarat
Malick A. Macabato 2/F Abalos Bldg., Roxas Ave. [email protected] (063) 221-2827 Chief Treasury Operations Officer II cor. Aguinaldo St. 09207513445 Lanao del Norte Provincial Office Kidapawan City
Amrosi S. Limpao 2/F Disomangcop Bldg. [email protected] 09205326324 Chief Teasury Operations Officer II Quezon Ave. Cor. Pasacum St. Lanao del Sur Provincial Office Marawi City
Manuel D. Aurelio 2/F Fajardo Bldg. [email protected] (064) 288-5218 Chief Treasury Operations Officer II Jose Abad Santos St. 09064975188 Kidapawan Provincial Office Kidapawan City
CLARA G. AURELIO 2/F Lim Chuy Tam Bldg. [email protected] (085) 341-2274 Concurrent Director II Cor. P. Burgos & Lopez Jaena Sts. [email protected] (085) 342-9480 CARAGA Montilla Blvd, Butuan City
Orlando R. Tulang 2/F RDG Bldg. [email protected] (086) 826-8537 Chief Treasury Operations Officer II San Nicolas St., Surigao City 09282718450 Surigao del Norte Provincial Office
Angelina R. Turtur NGPI Bldg., Brgy. 5 [email protected] (085) 343-8344 Chief Treasury Operations Officer II San Francisco, Agusan del Sur 09287406361 Agusan del Sur Provincial Office
Tita S. Ermac 2/F Lim Chuy Tam Bldg. [email protected] (085) 345-8025 Chief Treasury Operations Officer II cor. P. Burgos & Lopez Jaena Sts. 09108350941 Agusan del Norte Provincial Office Montilla Blvd., Butuan City
Calmalin Itaas 3/F Eduhome Bldg. [email protected] (086) 211-3319 Officer-In-Charge Osmena St., Tandag City 09177861271 Surigao del Sur Provincial Office
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