PDDTS MC 1991-01 (FX MC)
Updated: Apr 22
October 18, 1991
TO : ALL FX Credit Clearing Banks/Institutions
RE : AUTHORIZED BANK REPRESENTATIVES
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
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.