Mandatory Posting of Fit Notes and Coins Holdings and/or Requirements in the Cash Service Alliance (CSA) System

REGIONAL OPERATIONS -048 MEMORANDUM NO. M-2021___ To : ALL AUTHORIZED AGENT BANKS Subject : Mandatory Posting of Fit Notes and Coins Holdings and/or Requirements in the Cash Service Alliance (CSA) System Effective 06 September 2021, all banks are required to post in the CSA System all fit notes and coins intended to be deposited to or withdrawn from the Bangko Sentral GMRO or Bangko Sentral ROB on the next banking day, pursuant to the Revised Cash Service Alliance (CSA) General Guidelines (Annex A), stating among others that “CSA transactions shall take precedence over direct deposit to or withdrawal from the Bangko Sentral CD (now GMRO) or Bangko Sentral ROB”. Mandatory posting of fit notes and coins in the CSA System aims to maximize utilization of fit banknotes and coins by AABs through CSA. As stipulated under items h and I of Section V of the CSA General Guidelines, in case fit currency holdings posted in the CSA portal were not confirmed as CSA transactions, the Source Bank may: 1. Deposit the fit currency to the Bangko Sentral GMRO or Bangko Sentral ROB on the next banking day; or 2. Include them in the fit currency holdings to be reposted in the CSA System on the next banking day. In case of unconfirmed currency requirement posted in the CSA System, the Client Bank may: 1. Proceed with the regular withdrawal of currency requirements from the Bangko Sentral GMRO or Bangko Sentral ROB on the next banking day; or 2. Include them in the currency requirements to be reposted in the CSA System on the next banking day. Page

The CSA staff shall assist in the matching of transactions until 30 September 2021 to ensure full utilization of the CSA system in accordance with the Revised CSA General Guidelines. For strict compliance. ROSABEL B. GUERRERO Managing Director 03 September 2021 ___

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