203 TEMPORARY OVERDRAWINGS; DRAWINGS AGAINST UNCOLLECTED DEPOSITS
a. Temporary overdrawings. Temporary overdrawings against DDA shall not be allowed, unless caused by normal bank charges and other fees incidental to handling such accounts.
(1) The maintenance of non-resident correspondent bank’s peso DDAs and overdrawings therefrom are covered by reciprocal arrangement;
(2) Temporary overdrawings are covered within fifteen (15) banking days from the date overdrawings are incurred; and
(3) Such accounts are credited only through foreign exchange inward remittance.
b. DAUDs. DAUDs shall be prohibited except when the drawings are made against uncollected deposits representing manager’s/cashier’s/treasurer’s checks, treasury warrants, postal money orders and duly funded “on us” checks which may be permitted at the discretion of each bank.
- Such as but not limited to the Return ICL containing the dishonored Regular Clearing Item [i.e., electronically generated document showing a Check Image with Electronic Payment Information transmitted via CICS to the Drawee bank for collection of the amount]. ICL is an ANSI standard interface file specifications (X9.100-187) for electronic exchange of check and image data. It is generated by the front-end system of a Presenting Bank or Drawee Bank containing CICS Items transmitted to the Drawee bank or presenting bank, respectively.