The Philippine Statistics Authority (PSA) granted clearance for the conduct of the Senior Bank Loan Officers’ Survey (SLOS) of the Bangko Sentral ng Pilipinas (BSP).

The SLOS is a quarterly survey that aims to monitor and analyze how loan officers generally view credit standards and loan demand in terms of businesses and households. The survey's key variables serve as valuable inputs for the BSP's overall assessment of the robustness of credit demand, prevailing conditions in asset markets, and the effectiveness of bank lending as a channel for the transmission of monetary policy. Likewise, the survey is also a useful tool for the financial industry, as it analyzes elements pertinent to banks' lending activity and projects credit outlook for enterprises and households.

Major data items to be collected on the survey are as follows:

1. change in overall credit standards for loans to enterprises and households, and commercial real estate loans;

2. change in overall loan demand from enterprises and households, and commercial real estate loans;

3. change in specific credit standards, i.e., loan margins, collateral requirements, loan covenants, size of credit lines, length of loan maturities, and interest rate floors; and

4. factors affecting the change in credit standards and loan demand.

The SLOS will utilize a self-administered questionnaire which will be distributed via email to 63 banks across the country. This includes 41 universal and commercial banks (UKBs) and 22 thrift banks (TBs). Results of the survey are scheduled to be released in the third or last week of the first month of the next quarter.

The SLOS was reviewed and cleared for conduct under the Statistical Survey Review and Clearance System (SSRCS), a mechanism being implemented by the PSA by virtue of Rule 28 of Implementing Rules and Regulations of Republic Act No. 10625 to:

1. ensure sound design for data collection;

2. minimize the burden placed upon respondents;

3. effect economy in statistical data collection;

4. eliminate unnecessary duplication of statistical data collection efforts; and

5. achieve better coordination of government statistical activities.

In line with this, the PSA enjoins all sampled UKBs and TBs to support and participate in the conduct of the survey by providing the necessary information.

For further information on SSRCS, please contact the Statistical Standards Division of the Standards Service with telephone numbers (02) 8376-1928 and (02) 8376-1931, and email address ssd.staff@psa.gov.ph.

DENNIS S. MAPA, PhD
Undersecretary
National Statistician and Civil Registrar General

See more at the Statisticial Survey Review and Clearance System (SSRCS) landing page.