CICS OM 17-002

18 January 2017

TO : All Member/Participant Banks

RE : IMPLEMENTING GUIDELINES COVERING BANKS INVOKING SELF-EXCLUSION FROM CHECK IMAGE CLEARING

SYSTEM (CICS)

1. Pursuant to Section 6.2 of the CICS Rules and Regulations, we enumerate the guidelines to be observed in unwinding inward transactions of a participating bank that will declare exclusion from clearing operations due self- declared bank holiday, labor strike or force majeure, to wit:

a. As soon as notification is received and confirmed, PCHC shall notify all participating banks by fastest means of

communication for such exclusion and will immediately tag the affected bank as excluded in CICS. The

notification shall be confirmed by a Memo Circular to be emailed to all Liaison/Clearing Officers with hard copy

produced and sent to all bank presidents.

b. Upon exclusion of the bank, all clearing items that are already accepted, processed and pushed to the different

Drawee Banks via CICS prior to receipt of such notice shall automatically be excluded in the day’s netting

process. In order to account the affected items, PCHC shall provide detail list of the affected transactions to all

banks for their information only as their respective DDA balance are not affected.

c. After the bank has been excluded, no further transactions will ever be processed for the bank as all will be

automatically rejected if sent.

d. Collection of fees due from the ‘excluded bank’ shall be supported with a report generated from the unwinding

process initiated by PCHC.

2. For information and guidance.

CICS OM No.17-002

.Implementing Guideline

IMPLEMENTING GUIDELINE • 417KB