Regional Monetary Affairs Regional Monetary...- For burned currencies, a Bureau of Fire Protection...

Regional Monetary Affairs

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STEP NO. CLIENT STEP BSP ACTION OFFICE RESPONSIBLE/ LOCATION DOCUMENT(S) REQUIRED DOCUMENT(S) GENERATED

1 Secure and fill out application form in triplicate

Issues Application Form for Redemption of Mutilated Notes/Coins

Administrative Services Division (ASD) Personnel, BSP RO/Branch

Application for Redemption of Burned, Mutilated or Doubtful Currencies* (FM-RMASS-02-07-003); Application for Redemption of Mutilated Coins* (FM-RMASS-02-07-004)

2

Submit accomplished application form, in triplicate; and mutilated currency notes/coins for examination

Verifies currencies with the client's declared amount in the application form; assigns reference number; and issues client's copy of application form

ASD Personnel, BSP RO/Branch

3 Receive client's copy of application form

Instructs client to proceed to Paying Teller's window;

ASD Personnel, BSP RO/Branch

Banking days, 9:00 A.M. to 2:00 P.M.

Twenty-one (21) Regional Offices/Branches (Annex B)

None

Compliance with BSP Circular No. 61, series of 1995 and MAAB No. M-2007-027 dated 19 September 2007 as amended (Annex A, A-1)

- Notes may only be redeemed/replaced if:

- Mutilated coins (with perforations, defaced, bent/twisted, filing/clippings, burned) are not redeemable

REDEMPTION OF MUTILATED NOTES AND REFERRAL OF DOUBTFUL CURRENCIES TO CURRENCY ANALYSIS AND REDEMPTION DIVISION (CARD)

Requirements

Clients

Description of Service Initial examination and determination of spot redemption value of mutilated Philippine currency notes and coins; and referral of doubtful Philippine currency notes and coins to CARD for further examination.

General public and banks

How to Avail of the Service

Total Fees

Schedule

1. Its denomination can still be identified 2. It has not lost more than 2/5 of its surface or all signatures inscribed thereon

- For burned currencies, a Bureau of Fire Protection (BFP) certificate is required

Within one (1) hour for spot redeemable currenciesTotal Processing Time

Contact Information

3. Its series has not yet been demonetized

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4Proceed to Paying Teller's window and present client's copy of application form

Issues notice of the result of verification Administrative Division (AD) Personnel, BSP RO/Branch

Application for Redemption of Burned, Mutilated or Doubtful Currencies (FM-RMASS-02-07-003); Application for Redemption of Mutilated Coins (FM-RMASS-02-07-004)

5Receive notice of the result and affixes signature showing conformity with it

Releases the result of currency examination; instructs Paying Teller to pay the approved amount

Manager/Head, Currency Operations Division(COD), BSP RO/Branch

6A

For spot redemption, proceed to Paying Teller's Window to receive value of notes presented for examination

Receives mutilated Philippine peso notes with redeemable value and gives client corresponding Legal Tender Notes/Coins.

Paying Teller, Currency Operations Division, BSP RO/Branch

6B

For doubful currencies (Counterfeit/No Value/ Demonetized) retained by BSP for further examination, receive temporary receipt.

Issues temporary receipt for the currencies retained (Currencies found to be Counterfeit/No value/Demonetized shall be retained by BSP as per Sec.6 and 21 of BSP Circular 61 Series of 1995.)

Paying Teller, Currency Operations, Division, BSP RO/Branch

BSP RO/Branch Temporary Receipt

END OF TRANSACTION

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1. Secure and accomplish PB IRIS user registration form Issues PB IRIS registration form

Authorized PB representative; Administrative Services Officer(ASO) II/III, Administrative Services Division (ASD), BSP Regional Office(RO)/ Branch

2. Submit required documentsReceives, signs PB IRIS user registration form and Proof of Entitlement to Lotus Notes

Authorized PB representative; ASO II/III, ASD; RO/Branch Head, BSP RO/Branch

Accomplished PB IRIS user registration form; Copy of Proof of Entitlement to Lotus Notes

Receives and forwards PB user ID and default password thru Lotus Notes

Administrative Services Officer II/III, ASD; RO/Branch Head, BSP RO/Branch

3. Receive user ID and default password Authorized PB representative

Total Processing Time


END OF TRANSACTION

Enrollment of Participating Banks (PB) to IRIS

2. Proof of entitlement to lotus notes account; and

Description of Service

Clients Commercial bank cash centers serviced by a BSP Regional Office/Branch

Total Fees

1. Duly accomplished PB IRIS user registration form;

3. For recertification, applications should be submitted at least two (2) months before expiration date of current registration.



Three (3) banking days

INTEGRATED REGIONAL INFORMATION SYSTEM (IRIS) USER ID REGISTRATION AND RECERTIFICATION

Schedule

Contact Information

None

Requirements

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STEP NO. CLIENT STEP BSP ACTIONPUR

OFFICE RESPONSIBLE/ LOCATION DOCUMENT(S) REQUIRED DOCUMENT(S) GENERATED

1 Log-in to IRIS Lotus Notes (IRIS LN)and submit cash deposit request

To in

Authorized IRIS Account User/Bank Representative

IRIS-generated Cash Deposit Slip (CDS)

2

Proceed to BSP RO or Branch; print name and affix signature in the Currency Operations Division (COD) logbook; submit to body frisking

Frisks the authorized bank representative.

To ensu

Security Officer/Guard, BSP RO/Branch Company/Bank ID Card

3 Submit CDS and deposit tags

Logs-in to IRIS LN, accesses RT Pending Action button to examine cash deposit request and receives CDS and Deposit Tags

Authorized bank representative; Receiving Teller (RT), COD, BSP RO/Branch

Cash Deposit Slip, Three (3) copies of Deposit Tag (RMASS Form No. 01-019)

Reviews the documents submitted by the bank representative; validates CDS by time stamp machine

To ch

Receiving Teller, COD, BSP RO/ Branch

4

Proceed to COD receiving area, open metal box/es and arrange currency notes in stack of five (5) bundles per denomination for counting

To sumb

Authorized bank representative

SERVICING OF CASH DEPOSIT OF BANKS AND SUBSEQUENT VERIFICATION

1. Compliance with Clean Note Policy under Section 15, Chapter V of BSP Circular No. 61 Series of 1995 and MAAB No. M-2007-027 dated 27 September 2007 as amended by MAAB No. M-2009-021 dated 16 June 2009 (Annex A, A-1, A-2);

4. For verification of deposits, authorized bank representatives must be in pocketless attire.


Clients

Requirements

3. Bank Representative must be authorized to transact with BSP Regional Offices (ROs)/Branches; and

Banks

The BSP receives and takes custody of fit and unfit currency deposits from banks subject to verification for credit to demand deposit account.

2. Banks must be enrolled with the Integrated Regional Information System (IRIS);



Contact Information Twenty-one (21) Regional Offices/Branches (Annex B)

Total Fees None

Within one (1) hour from arrival of authorized Bank Representative in a BSP Regional Office/Branch; and for verification of deposits, within six (6) hours start of verification process

A. SERVICING OF BANK DEPOSITS

Schedule

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STEP NO. CLIENT STEP BSP ACTIONPUR

OFFICE RESPONSIBLE/ LOCATION DOCUMENT(S) REQUIRED DOCUMENT(S) GENERATED

A. SERVICING OF BANK DEPOSITSAcknowledges receipt of the cash deposits

To ac

Receiving Teller, COD, BSP RO/Branch Duly acknowledged Cash Deposit Slip, Three (3) copies of Deposit Tag

5 Receive one (1) copy each of duly acknowledged CDS and deposit tags Authorized bank representative

Notifies bank representative of the scheduled verification two (2) days before verification date

To co

Bank Officer I/ Senior Currency Operations Officer (SCOO), COD, BSP RO/Branch

Appointment Slip

1 Receive/accept appointment slip Authorized bank representative

2

Submit appointment slip to BSP Security Officer/Guard; receive BSP security pass and proceed to COD verification area

Receives appointment slip, issues BSP security pass, inspects if in pocketless attire, frisks bank representative

To secu

Authorized bank representative; Security Officer/Guard, BSP RO/Branch Appointment slip BSP security pass

3

Open metal box/es; witness the counduct of piece-by-piece verification through Glory machine/ Automated Banknote Processing Machine(ABPM)

Conducts piece-by-piece verification of cash deposits, and issues verification report; in cases with discrepancy, prepares discrepancy report and secures signature from client

To esta

Authorized bank representative; Bank Officer I/Senior Currency Operations Officer(SCOO), Currency Assistant II, COD, BSP RO/Branch

Daily Accomplishment Report of Currency Verified; Assignment Control Sheet; Verification Report; Discrepancy Report

END OF TRANSACTION

B. VERIFICATION OF DEPOSITS

END OF TRANSACTION

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2. Banks must have sufficient demand deposit balance;3. Amount of withdrawal must be within authorized limits;

STEP NO. CLIENT STEP BSP ACTION OFFICE RESPONSIBLE/LOCATION DOCUMENT(S) REQUIRED DOCUMENT(S) GENERATED

1Log-in to IRIS Lotus Notes (IRIS LN) and submit withdrawal request to BSP RO/Branch

IRIS-generated authority to debit

2

Proceed to BSP RO/Branch; print name, affix signature in the Currency Operations Division (COD) Logbook and submit to body frisking

Frisks the authorized bank representative Security Officer/Guard, BSP RO/Branch Company/Bank ID Card

3Submit BSP Demand Deposit (DD) Check/s, Authority to Withdraw, Authority to Debit

Receives/reviews/verifies correctness/ completeness of documents submitted; Prints Cash Transfer Slip (CTS)

Paying Teller, COD Assistant Head, COD Head, COD, BSP RO/Branch

BSP DD check/s, Authority to Withdraw, Authority to Debit, Cash Withdrawal Processing Sheet, Pass-out Slip

Requests bank representative to sign "Received Payment" and releases cash Paying Teller, COD, BSP RO/Branch

4

Acknowledge receipt of cash in the CashWithdrawal Processing Sheet and Pass-outSlip; receive cash; conduct bundle andwrapper count (piece count is optional).

Authorized bank representative

Release of currency to banks withdrawn/debited from demand deposit account

1. Banks should be enrolled with the Integrated Regional Information System (IRIS);

4. Withdrawal request must be approved by the Payment and Settlements Office (PSO) not later that 12 noon of the scheduled date of withdrawal;



SERVICING OF CASH WITHDRAWALS OF BANKS

Schedule

Contact Information


Clients Banks

Requirements

Within one (1) hour from arrival of authorized Bank Representative in a BSP Regional Office/Branch

Total Fees


None

5. Withdrawing Bank representative(s) must be authorized to transact business with the BSP Regional Offices(ROs)/Branches; and

END OF TRANSACTION

6. Compliance with BSP Circular No. 61, series of 1995 and MAAB No. M-2007-027 dated 19 September 2007 as amended by MAAB No. M-2009-021 dated 16 June 2009 (Annex A, A-1, A-2).

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2. Authorization letter and community tax certificate

3. Gold offered for sale must have the following specifications:

a. Weight per bar/lot must not be more than 5 kgs./10 kgs.;

BSP Davao Regional Office, BSP Naga Branch, BSP Zamboanga Branch, Baguio Gold-Buying Station (Baguio GBS) *

Gold Sellers/Traders must physically present their metal and fill up the necessary documents


1 Proceed to GBS office, BSP RO/Branch*

Issues Letter of Delivery and Sale (LDS) and Reception Note (RN); prepares Gold Reception and Processing Control Activity Tracking (GRPCAT)

Bank Teller III/ Senior Accounting Specialist, BSP RO/Branch/ Baguio GBS GRPCAT (Internal)

2 Accomplish LDS and RN; Submit to GBS Head

Accomplished Letter of Delivery and Sale, Reception Note

Reviews the LDS and RN; receives gold from trader

GBS Head, Security Materials Control Officer II/ Senior Security Materials Control Officer, Gold Buying Station

Accomplished Letter of Delivery and Sale, Reception Note

3 Witness the cleaning and pre-assay of gold submitted Cleans, weighs, and pre-assays gold

Security Materials Control Officer II/ Senior Security Materials Control Officer, GBS Head, Assayer, Gold Buying Station

Request for Analysis Analysis Report, Precious Metal Return Slip (All Internal)

4 Proceed to Administrative Division

Releases to client duly signed/ countersigned check/s; Instructs client to proceed to Paying Teller's window/ commercial bank in case of Baguio GBS

Gold Trader; Bank Officer I, Administrative Services Division; (In case of Baguio GBS - Senior Accounting Specialist)

Special Power of Attorney (if authorized representative)

5

Receive/ Encash check/s payment for gold (For BSP checks, proceed to Currency Operations Division Paying Teller for encashment)

Accepts check for payment and disburses cash Gold Trader; Paying Teller, COD Duly endorsed check, Valid ID for

verification of payee's identity

PURCHASE OF GOLD FROM THE GENERAL PUBLIC


Total Fees


1. Duly accomplished Letter of Delivery and Sale (LDS)

Assay/Processing fees based on guidelines are deducted from payments

Schedule

Contact Information

Requirements

Clients Gold Traders, Small-Scale Miners

b. Purity must be at least 30 percent; and c. Maximum dimension must be 6.5"x3"x1.5' for gold bar, 4"x2" for gold disc.


Within one (1) hour and thirty (30) minutes from arrival of client in a BSP Regional Office (RO)/Branch/Gold Buying Station(GBS); Advance payment equivalent to 99% of purchase price completed **

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** There is a pending RMASS request for exemption from COA pre-audit requirement which if not granted, will increase the total processing time.

*

2. BSP ZAMBOANGA BRANCH 4. BAGUIO GOLD BUYING STATION LHB Bldg. I, Veteranos Avenue, Zamboanga City Session Road, Baguio City

END OF TRANSACTION

1. BSP DAVAO REGIONAL OFFICE 3. BSP NAGA BRANCH Quirino Avenue, Davao City Chua Oco Bldg., Elias Angeles St. Naga City

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BANGKO SENTRAL NG PILIPINASREGIONAL MONETARY AFFAIRS SUB-SECTOR

List of BSP Regional Offices and Branch

Annex 2

20. BSP TUGUEGARAO BRANCH Regional Government Center, Carig, Tuguegarao City

16. BSP LUCENA BRANCH Quezon Avenue, Lucena City17. BSP NAGA BRANCH

21. BSP ZAMBOANGA BRANCH LHB Bldg.; I, Veteranos Avenue, Zamboanga City

Chua Oco Bldg., Elias Angeles St., Naga City

19. BSP TACLOBAN BRANCH

18. BSP OZAMIZ BRANCH Circumferential Road, Ozamiz City

Uytinco Bldg., Sen. Enaje St., Tacloban City

11. BSP DUMAGUETE BRANCH July Dev. Corp. Bldg., Lacson & Cervantes Sts., Dumaguete City

Tondaligan, Bonoan Guesset, Dagupan City

Del Rosario Bldg. II, Rizal Avenue, Legazpi City

Solis St., Iloilo City

Cor. Quezon & Sinsuat Avenues, Cotabato City

Natl. Highway cor Velez St., Cagayan de Oro City

15. BSP LEGAZPI BRANCH

Pendatun cor. Dprosa St., General Santos City13. BSP ILOILO BRANCH

14. BSP KALIBO BRANCH rsl Bldg., Arch. Reyes & G. Pastrana Sts., Kalibo, Aklan

10. BSP DAGUPAN BRANCH

7. BSP CABANATUAN BRANCH Cor. Del Pilar & Paco Roman Sts., Cabanatuan City

8. BSP CAGAYAN DE ORO BRANCH

12. BSP GENERAL SANTOS BRANCH

9. BSP COTABATO BRANCH

Sto. Entierro St., Angeles City

5. BSP BACOLOD BRANCH Cor. Lacson & Luzuriaga Sts., Bacolod City

6. BSP BATAC BRANCH Natl. Highway, Quiling Norte, Batac, Ilocos Norte

Cor. Osmeña & P. del Rosario Sts., Cebu City

2. BSP DAVAO REGIONAL OFFICE

1. BSP CEBU REGIONAL OFFICE

4. BSP ANGELES BRANCH

Quirino Avenue, Davao City

3. BSP LA UNION REGIONAL OFFICE Quezon Avenue, San Fernando City, La Union

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