CICS OM 18-024
Updated: Dec 10, 2020
October 19, 2018
T O : All Participating Banks/Institutions
R E : AMENDMENTS TO THE CICS RULES AND REGULATIONS
1. We are pleased to inform that the PCHC Board in its meeting of October 11, 2018 approved the proposed amendments to Check Image Clearing System (CICS) Rules and Regulations.
2. It may be recalled that the initial draft was exposed/released on July 31, 2018 thru Memo Circular No. 3462 soliciting comments/inputs from clearing participants. The proposed amendments were likewise presented to all Clearing/Liaison Officers of banks on August 31, 2018 during a general meeting called for the purpose.
3. The amended version not only contain changes that were already circularized via CICS Operating Memos but also considered the feedback, suggestions and inputs raised during series of consultative meetings between PCHC and the leadership of the Clearing Officers Club, Inc. (COCI).
4. Appended is Annex A which summarizes all the amendments for easy reference. A secure copy of the CICS Rules and Regulations as amended will be sent to all Liaison/Clearing Officers. For new provisions that were not part of the earlier issued CICS Operating Memos, effectivity date shall be November 01, 2018.
5. Should you need further information or clarification please do not hesitate to call our Makati Help Desk at 8861344 up to 47 and look for Anthony Manongas or Manila Help Desk at 5230315. For Manila, you may look for Hector Lasaleta.
6. Please be guided accordingly.