July 12, 2016 was indeed an exceptional Tuesday. In the afternoon of this day, the Chairman of the Monetary Board and Governor of BSP Amando M. Tetangco, Jr and the President and CEO of PCHC Emmanuel E. Barcena signed a Memorandum of Agreement appointing and designating PCHC as processing agency and exclusive provider of automated clearing facility which shall implement clearing of checks via Electronic Presentment starting January 6, 2017. Joining with the principal signatories (as witnesses) were Deputy Governor Vicente S. Aquino of BSP and Chairman Abraham T. Co of PCHC.
This momentous event was held at BSP Assembly Area, BSP Complex, Manila at exactly 3:00 PM. Presidents and officers of the clearing participant banks were also invited to witness the said event.
On June 21, 2016, PCHC met with its member banks to provide updates on the Check Image Clearing System (CICS) Project. Discussed during the meeting were updated project timelines and the resolution to conduct Parallel Run in all Fridays of August 2016 and Migration Run which will start on October 7, 2016.
PCHC gave consideration to some of its members that are in early stages of preparing for CICS by deferring full implementation of the project. Instead, PCHC decided to carry out Parallel and Migration Runs to enable CICS-ready banks the opportunity to already migrate to the new system, while allowing other banks to progressively build confidence on CICS prior to its full implementation.
Mr. Emmanuel Bacena, PCHC’s President and CEO also announced during the said meeting, the timely approval of BSP’s Monetary Board on the operationalization of CICS. Mr. Barcena will provide its member banks copies of the MOA after the signing between BSP and PCHC.
The Philippine Clearing House Corporation commenced its live clearing operations thirty-six (36) years ago today and became the first automated check clearing house in Southeast Asia.
All PCHC Member Banks are requested to register to be able to access the new site. To register, simply click on “Contact Us” and fill out the form – ensuring that the email address you have indicated is active and your bank’s official email. At the bottom of the form are boxes; indicate which services you need to have access to.
Access credentials will be sent to your registered e-mail when approved.
Once you have subscribe to our site, you will be able to access the “Members’ Lounge” (Link: bottom of the main page or you may click on “Publication” and click “Members Lounge”).
Fifth Batch of Pilot Testing will end Friday. However, interested banks may continue sending outward ICLs for confidence building.