1112 ADOPTION OF CLEAN NOTE AND COIN POLICY
a. Coverage. This shall emphasize that the policy shall be implemented bank-wide covering all branches.
b. Criteria to determine when a note/coin is to be pulled out of circulation. This shall provide the conditions under which a currency is to be withdrawn from circulation as well as the system for properly segregating fit notes/coins from unfit notes/ coins. This shall also cover the quality of notes to be loaded in automated teller machines.
c. Guidelines in ensuring that the life of currency notes/coins is extended. This shall identify measures that deter unacceptable practices, such as, among others, stapling and writing on currencies, and excessive folding.
d. Deposit and/or exchange on a regular basis of unfit notes/coins with the Bangko Sentral. This shall include safeguards that will ensure compliance with the guidelines set by the Bangko Sentral when making cash deposits with the Cash Department or any of the Regional Offices/Branches. Said policy shall include guidelines that aim to facilitate regular deposit and/or exchange with the various Bangko Sentral cash units of unfit notes/coins.
(Circular No. 931 dated 09 December 2016)