CICS OM 17-008
Updated: Dec 3, 2020
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
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.