PDDTS MC 1991-01 (FX MC)

Updated: Apr 22, 2021

October 18, 1991

TO : ALL FX Credit Clearing Banks/Institutions


1. For control and proper identification, we wish to inform that effective immediately, all bank representatives

will be required to present their CB-PCHC Identification (ID) before they can claim their FX Credit Clearing

Incoming Items from PCHC.

2. Pursuant thereto and for ID issuance purposes, Banks participating in the FX Credit Clearing and Settlement

System are requested to submit the names of their authorized representatives to PCHC on or before October

25, 1991.

3. Bank representatives named by the respective FX Liaison Officers shall be asked individually to submit the

following requirements before they are provided with the CB-PCHC IDs, to wit:

3.1. NBI Clearance - issued within the 6-month period prior to the date of filing the ID application.

3.2. 1 x 1 Photo - black and white or colored

4. However, there is no need to apply for a new ID if the authorized representative is the Bank's regular clearing

representative to PCHC.

5. It is understood that participating banks shall inform PCHC of any and all changes thereafter on this roster of

authorized representatives due to transfer, promotion or resignation. It shall be the responsibility of the

banks to retrieve and cancel the IDs of the employees whose authority to represent the bank has been


6. Pending issuance of the IDs and in cases of emergencies (e.g. ban's authorized representative is not

available), participating banks may claim their inward items by presenting a letter of authorization duly

signed by the bank's FX Liaison Officer or his alternate.

7. For information and guidance.

PDDTS MC 1991-01
.Authorized Bank Represe