CICS OM 17-008

18 January 2017

T 0 : All Member/Participant Banks

R E : GUIDELINES/PROCEDURES TO BE OBSERVED IN THE SETTLEMENT OF DISCRIPANCIES UNDER

THE CHECK IMAGE CLEARING SYSTEM (CICS)

1. We append the detailed guidelines/procedures to be observed by all PCHC Member/Participant Banks in the settlement process covering the following clearing discrepancies:

1.1. Electronic Payment Information (EPI) amount is greater than the amount shown on the

Image of the Clearing Item

1.2. EPI amount is less than the amount shown on the Image of the Clearing Item

1.3. Miscleared CICS Item

1.4. Duplicate CICS Item or Set of CICS Items (RCI or Return ICL)

1.5. Error/s or Omission/s on electronically transmitted EPI

2. As a matter of policy, the electronic payment information (EPI) derived from the Image Cash

Letters (ICLs) shall be used as basis to debit or credit the banks' respective Demand Deposit

Accounts (DDA) maintained with the Settlement Bank.

3. For Member/Participant Banks which are not yet ready to accept/process ICL Files, ICLs intended

for them will be converted into ECCS files which shall be used for their inward file

processing/uploading.

4. As provided in Section 23 of CICS Rules and Regulations, settlement of discrepancies shall be

thru Clearing Receipt/Charge Slip (CR/CS). Penalties, where appropriate, shall be separately collected via CR/CS.

5. The guidelines/procedures shall be effective upon full implementation of CICS.

6. Please be guided accordingly.

CICS OM No.17-008

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