| GUIDELINES FOR DAYS DECLARED AS PUBLIC SECTOR HOLIDAYS (Appendix to Secs. 802 on Check Clearing Operations During Public Sector Holidays, 254, and 601 on Monetary Operations) |
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| Table of standard operating procedures of the Bangko Sentral, the Bureau of the Treasury (BTR) and the Philippine Clearing House Corp (PCHC) during the public sector holidays. Exceptions to these guidelines shall be issued by the Bangko Sentral when deemed necessary. | |||||||||||||
| Time of receipt of Public Holiday Announcement by the Bangko Sentral | Bangko Sentral | Reserve Position | Bureau of the Treasury | PCHC | |||||||||
| Treasury Department | PDS | PhilPASS | Cash Dept Withdrawal | ||||||||||
| Trading and Settlement | |||||||||||||
| ODF | OLF | TDF | Overnight RRP Facility | Auction | Sec. Mkt | Manila | Regional | ||||||
| 1. On an ordinary business day prior to the date of effectivity | Closed | Closed | Closed. TDF offering to be rescheduled by the Auction Committee | Closed | Closed | Closed | Closed | Non- Reserve | Closed | Closed | No clearing; no settlement. PCHC will issue an advisory to its members that it will continue accepting and processing checks | To be decided in coordination with Head Office | |
| 2. On a Saturday or Sunday to take effect the following Monday or on a non-working holiday to take effect the next business day | |||||||||||||
| a. Under good weather conditions | Open | Open | Open | Open | Open | Open | Open | Reserve | Open | Open | Normal | To be decided in coordination with Head Office | |
| b. Under unfavorable conditions such as bad weather, (e.g., Typhoon signal no. 3), natural calamities or civil disturbances | Closed | Closed |
Closed. TDF offering to be rescheduled by the Auction Committee |
ClosedNon- Reserve | Closed | Closed | Closed | Non- Reserve | Closed | Closed | No clearing; no settlement. PCHC will issue an advisory to its members that it will continue accepting and processing checks | To be decided in coordination with Head Office | |
| 3. Before 9:00 am on the date of effectivity | Closed | Closed | Closed. The TDF offering to be rescheduled by the Auction Committee | Closed | Closed | Closed | Closed | Non- Reserve | Closed | Closed | No clearing; no settlement. PCHC will issue an advisory to its processing checks members that it will continue accepting and processing checks | To be decided in coordination with Head Office | |
| 4. After 9:00 am and before 12:00 pm on the date of effectivity | Day 1 | Suspended at 12:00 pm; to resume on Day 2 at 8:00 am to 8:45 am. Settlement of all Overnight Deposits dealt from Day 1 until 8:45 am of Day 2 shall be until 9:00 am of Day 2 | Suspended at 12:00 pm; to resume on Day 2 at 8:00 am to 8:30 am. Settlement of all Overnight Lendings dealt from Day 1 until 8:30 am of Day 2 shall be until 9:00 am of Day 2 | No change in auction time, settlement will be until 9:00 am of Day 2 | Offering suspended; to resume on Day 2 at 8:00 am and settle until 9:00 am of Day 2 | Open | Open | Open | Reserve | Open | Open | Normal | To be decided in coordination with Head Office |
| Day 2 | Day 1 transactions to resume from 8:00 am to 8:45 am for value Day 1 and settle until 9:00 am of Day 2 then, Regular trading and settlement hours for same day value transactions. | Day 1 transactions to resume from 8:00 am to 8:30 am for value Day 1 and settle until 9:00 am of Day 2 then, Regular trading and settlement hours for same day value transactions. |
Settlement of Day 1 transactions until 9:00 am of Day 2 then, Regular trading and settlement hours for same day value transactions, if there is a scheduled auction. |
Bid submission at 8:00 am to 8:20 am, allocation until 8:45 am, settlement until 9:00 am of Day 2 for value Day 1 then, Regular trading and settlement of same day value transactions. |
Open | Open | Open | Reserve | Open | Open | Normal | To be decided in coordination with Head Office | |
| 5. After 12:00 pm on the date of effectivity | No change in trading and settlement hours | No change in trading and settlement hours | No change in trading and settlement hours | No change in trading and settlement hours | Open | Open | Open | Reserve | Open | Open | Normal | To be decided in coordination with Head Office | |
| 6. In case the suspension of work is extended to Day 2 | |||||||||||||
| a. Before 9:00 am of Day 2 | Day 2 | Closed; If the ODF was suspended on Day 1, Day 1 transactions and settlement will resume on Day 3 at 8:00 am |
Closed; If the OLF was suspended on Day 1, Day 1 transactions and settlement will resume on Day 3 at 8:00 am |
Closed; If there were TDF transactions on Day 1, settlement will continue from 8:00 am to 9:00 am on Day 3. If the TDF offering was suspended on Days 1 and 2, the Auction Committee will reschedule. |
Closed; If the Overnight RRP offering was suspended on Day 1, Day 1 transactions will be moved to Day 3 at 8:00 am |
Closed | Closed | Closed | Non- Reserve | Closed | Closed | No clearing; no settlement. PCHC will issue an advisory to its members that it will continue accepting and processing checks | To be decided in coordination with the Head Office |
| Day 3 | Day 1 transactions to resume from 8:00 am to 8:45 am and settle for value Day 1 until 9:00 am of Day 3 then, Regular trading and settlement of same day value transactions. | Day 1 transactions to resume from 8:00 am to 8:30 am and settle for value Day 1 until 9:00 am of Day 3 then, Regular trading and settlement of same day value transactions. | Settlement of Day 1 transactions, if any, until 9:00 am of Day 3 then, Regular trading and settlement hours for same day value transactions if there is a scheduled auction. |
Bid submission from 8:00 am to 8:20 am, allocation until 8:45 am. Settlement for value Day 1 until 9:00 am of Day 3 then, Regular trading and settlement of same day value transactions. |
Open | Open | Open | Reserve | Open | Open | Normal | To be decided in coordination with the Head Office | |
| b. After 9:00 am but before 12:00 pm of Day 2 | Day 2 | Day 1 transactions, if any, to resume from 8:00 am to 8:45 am and settle for value Day 1 until 9:00 am of Day 2 then, Day 2 suspended at 12:00 pm; to be resumed on Day 3 from 8:00 am to 8:45 am. Settlement of all Overnight Deposits dealt from Day 2 until 8:45 am of Day 3 shall be until 9:00 am of Day 3. |
Day 1 transactions, if any, to resume from 8:00 am to 8:30 am and settle for value Day 1 until 9:00 am of Day 2 then, Day 2 suspended at 12:00 pm; to be resumed on Day 3 from 8:00 am to 8:30 am. Settlement of all Overnight Lendings dealt from Day 2 until 8:30 am of Day 3 shall be until 9:00 am of Day 3. | Settlement of Day 1 transactions, if any, until 9:00 am of Day 2 then, Regular trading hours for same day value transactions, if there is a scheduled auction. Settlement of Day 2 transactions will be until 9:00 am of Day 3 |
If the Overnight RRP offering was suspended on Day 1, bid submission from 8:00 am to 8:20 am, allocation until 8:45 am. Settlement for value Day 1 until 9:00 am of Day 2 then, Offering for Day 2 suspended at 12:00 pm; to be resumed on Day 3 at 8:00 am and settled until 9:00 am of Day 3 |
Open | Open | Open | Reserve | Open | Open | Normal | To be decided in coordination with Head Office |
| Day 3 | Day 2 transactions to resume from 8:00 am to 8:45 am and settle for value Day 2 until 9:00 am of Day 3 then, Regular trading and settlement of same day value transactions. | Day 2 transactions to resume from 8:00 am to 8:30 am and settle for value Day 2 until 9:00 am of Day 3 then, Regular trading and settlement of same day value transactions. | Settlement of Day 2 transactions, if any, until 9:00 am of Day 3 then, Regular trading and settlement hours for same day value transactions if there is a scheduled auction. |
Bid submission from 8:00 am to 8:20 am, allocation until 8:45 am. Settlement for value Day 2 until 9:00 am of Day 3 then, Regular trading and settlement of same day value transactions. |
Open | Open | Open | Reserve | Open | Open | Normal | To be decided in coordination with the Head Office | |
| c. After 12:00 pm of Day 2 | Day 2 | Day 1 transactions, if any, to resume from 8:00 am to 8:45 am and settle for Value Day 1 until 9:00 am of Day 2 then, Regular trading and settlement of same day value transactions | Day 1 transactions, if any, to resume from 8:00 am to 8:30 am and settle for Value Day 1 until 9:00 am of Day 2 then, Regular trading and settlement of same day value transactions. | Settlement of Day 1 transactions, if any, until 9:00 am of Day 2 then, Regular trading and settlement hours for same day value transactions if there is a scheduled auction. |
If the Overnight RRP offering was suspended on Day 1, bid submission from 8:00 am to 8:20 am, allocation until 8:45 am. Settlement for value Day 1 until 9:00 am of Day 2 then, Regular trading and settlement of same day value transactions. |
Open | Open | Open | Reserve | Open | Open | Normal | To be decided in coordination with Head Office |
| 7. In case the suspension of work does not apply to all government offices (Manila Day, Quezon City Day, etc) | No change in trading and settlement hours | No change in trading and settlement hours | No change in trading and settlement hours | No change in trading and settlement hours | Open | Open | Open | Reserve | Open | Open | Normal | To be decided in coordination with the Head Office | |
| Notes: | |||||||||||||
| 1. The Bangko Sentral consulted with and obtained the agreement of BAP, ACI and MART in formulating these standard operating procedures. | |||||||||||||
| 2. Placements in the ODF, TDF and Overnight RRP Facility which would have matured on the public sector holiday will instead mature on the next business day and earn additional interest. | |||||||||||||
(Circular Nos. 921 dated 22 August 2016 and 913 dated 02 June 2016, M-2008-025 dated 13 august 2008)