Description:
Bangko Sentral ng Pilipinas (BSP) Central Bank of the Philippines - Office of the Governor Circular No. 681 - Series of 2010 Revised Check Clearing and Settlement Processes Partial overview: Section X202 Temporary Overdrawings; Drawings Against Uncollected Deposits, Section X203 Checks Without Sufficient Funds; Section X203.1 Checks Dishonored due to Technical Reasons; Section X205 Check Clearing Rules for Banks Authorized to Accept Demand Deposits; Section X226 Clearing of NOW Accounts; Subsection X257.2 Failure to cover overdrawings with the Bangko Sentral Section X603 Clearing Operations; Circular Effectivity on 01 January 2011 by OIC -- Armando L Suratos (for the Monetary Board) Implementing Guidelines for Banks Participating Directly in the Clearing Operations of the Philippine Clearing House Corporation (PCHC) Settlement of Interbank Transactions vis-a-vis Covering the Reserve Requirement / Deficiency of Bank's DDA with the BSP
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