Appendix 35

SETTLEMENT OF INTERBANK TRANSACTIONS VIS-À-VIS COVERINGRESERVE REQUIREMENT/DEFICIENCY OF BANKS’ DEMAND DEPOSIT ACCOUNT WITH THE BANGKO SENTRAL
(Appendix to Sec. 202)

Start
Time
Agency
Involved
Activities Cut-off
Time
Current Day (T+0)
9:00 AM PCHC Regular check clearing processing window 4:30 PM
9:00 AM BSP-PSO Beginning balances generated for PhilPaSS-DDA
Regular window for same day interbank transactions
Posting/Settlement of other DDA transactions (i.e. BTr and other Bangko Sentral departments)
• Bank payment of OLF converted from ILF availed (value T-0) 11:00 AM
• Bangko Sentral ECWS transactions 12:00 noon
• Cash deposits with Bangko Sentral Head Office and Regional Offices/EFTIS 2:00 PM
• OFW remittances via PhilPaSS-REMIT 3:00 PM
• ATM transactions 4:00 PM
• BTr-GS sale/purchase via DvP -do-
• PDS Settlement Highway for GS-eDvP -do-
• BSP-OLC Collection of OCL availed (value T-0) 5:00 PM
• PDS Settlement Highway for USD sale/purchase (peso lag) via PvP 5:45 PM
• Interbank borrowings/Lending -do-
• E-Rediscounting -do-
9:00 AM BTr Bank’s availment of ILF Loan 10:00 AM
10:01 AM BSP-TD Grant/Credit of ILF loan proceeds to bank’s DDA 5:00 PM
Collection (on demand) of ILF loan availed 5:00 PM
10:00 AM BSP-TD Bangko Sentral Monetary Operations:
• TDF (bid submission at 9:30 AM) 10:30 AM
• Outright GS purchase and sale 5:00 PM
• OLF 5:15 PM
• ODF 5:30 PM
10:00 AM BSP-PSO PhilPaSS settlement cut-off of Bangko Sentral TDF, Outright GS purchase and sale/OLF/ODF 5:45 PM
4:30 PM BSP-PSO Posting of PCHC ECCS results 4:45 PM
4:30 PM BSP-TD Bangko Sentral Monetary Operations – Overnight RRP 5:00 PM
4:30 PM BSP-PSO PhilPass settlement cut-off of Bangko Sentral Overnight RRP 5:45 PM
6:00 PM BSP-PSO Interbank window for end-of-day liquidity/reserve position
6:00 PM BSP-PSO PhilPaSS close of business 6:30 PM
6:00 PM BSP-PSO Release of final copy of PhilPaSS DDA balance via MT950 (end-of-day DDA balance before AM returns clearing) 6:30 PM
Release of notice to PCHC of the amount available for settlement of the bank’s clearing losses, if greater than DDAlosses, if greater than DDA
6:00 PM PCHC Receipt of Bangko Sentral notice of the amount available for settlement of the bank’s clearing losses, if greater than DDA 6:30 PM
Next Day (T+1) Normal Conditions
2:00 AM PCHC Returned COCI receiving window 8:00 AM
8:01 AM BSP-PSO Interbank trading and settlement window for losses in AM returns (back value T+0) 8:59 AM
BSP-DLC Availment of OCL by Banks (back value T+0) 8:59 AM
BSP-TD Bangko Sentral-OLF window for losses in AM returns (back value T+0) 8:45 AM
8:16 AM BSP-PSO PhilPaSS settlement cut-off Bangko Sentral OLF (back value T+0) 8:59 AM
9:00 AM BSP-PSO DDA balances (T+0) available on demand via PhilPaSS Participant Browser (PPB) 9:00 AM
9:00 AM BSP-PSO PhilPaSS business hours – Value T+1 5:45 PM
9:00 AM PCHC Receipt of Bangko Sentral notice of bank’s suspension in clearing operations, if any
Next Day (T+1) – Abnormal Conditions (Extended End-of-Day Procedures)
2:00 AM PCHC Returned COCI receiving window 8:00 AM
8:01 AM BSP-PSO Posting/settlement of PCHC AM returns (back value T+0) 8:15 AM
8:16 AM BSP-PSO Interbank trading and settlement window for losses in AM returns (back value T+0) 9:59 AM
8:16 AM BSP-DLC Availment of OCL by Banks (back value T+0) 9:59 AM
BSP-TD Bangko Sentral Monetary Operations trading window on an extended EOD basis (back value T+0)
• Overnight RRP (bid submission at 8:16 AM) 9:30 AM
• OLF 9:30 AM
• ODF 9:30 AM
• TDF 9:30 AM
8:16 AM BSP-PSO PhilPaSS settlement cut-off Bangko Sentral OLF, ODF, TDF and RRP (back value T+0) 9:59 AM
10:00 AM BSP-PSO DDA balances (T+0) available on demand via PhilPaSS Participant Browser (PPB) 10:00 AM
10:01 AM BSP-ITSS Housekeeping Procedures 12:59 PM
1:00 PM BSP-PSO PhilPaSS business hours –Value T+1 5:45 PM

List of Acronyms

ATM – Automated Teller Machine
BTr – Bureau of the Treasury
DDA – Demand Deposit Account
DVP – Delivery versus Payment
ECCS – Electronic Cheque Clearing System
ECWS – Electronic Cash Withdrawal System
eDvP – Enhanced Delivery versus Payment
EFTIS – Electronic Fund Transfer Instruction System
EPCS – Electronic Peso Clearing System
GS – Government Securities
ILF – Intraday Liquidity Facility
OFW – Overseas Filipino Workers
OCL – Overdraft Credit Line
ODF – Overnight Deposit Facility
OLF – Overnight Lending Facility
PDS – Philippine Dealing System
PvP – Payment versus Payment
RRP – Reverse Repurchase Agreement
TDF – Term Deposit Facility
(T-0) – Banking days prior to Current Day

(Circular Nos. 986 dated 29 December 2017, 955 dated 11 April 2017 and 913 dated 02 June 2016)