MORNBFI Vol. 1 - Planters Development Bank

APP. Q-2108.12.317. On the same day, SRSO shallinstruct BTr to transfer the securitiesspecified to be withdrawn from the BSP-SES account to the RoSS account of the trustinstitution (or its settlement bank).8. BTr shall effect the transfer/withdrawal. At the end of the day, BTr shallsend a report to SRSO containing thetransfer/withdrawal.9. SRSO shall provide the appropriateBSP-SES department a copy of the report.10. The responsible BSP-SESdepartment shall check from the reportwhether BTr effected the transfer/withdrawal.D. Procedures for Withdrawing RoSSSecurities1. The trust institution shall advise theappropriate BSP-SES department that it willwithdraw existing RoSS securities assignedas security deposit. The advice should bereceived by the BSP-SES at least two (2)banking days before the date of withdrawalusing the prescribed form (Annex 4) andindicating therein details of the securitiesto be withdrawn. The advice should besent by cc mail or by fax to be followedby an official letter duly signed by anauthorized trust officer.2. The responsible BSP-SESdepartment shall verify whether thesecurities to be withdrawn are in the RoSSaccount of BSP-SES and the ClientSecurities Account of the trust institution.The department shall also determinewhether the amount of remaining securitydeposit will still be adequate in spite of theproposed withdrawal. If in order, theDirector (or in his absence, the designatedalternate officer) of the departmentconcerned shall authorize SRSO to instructBTr to transfer the securities specified tobe withdrawn from the BSP-SES accountto the trust institution’s own RoSS account(or its settlement bank). The Departmentconcerned shall use Annex 5 and checkBoxes “b” and “d”. Should there be anydiscrepancy, the department shall inform thetrust institution immediately. The authorityto allow the withdrawal should betransmitted to SRSO not later than the dateof the withdrawal indicated in the advice(Annex 4) sent earlier by the trust institution.The BSP-SES department concernedshall also advise the trust institution that ithas approved the withdrawal of securitydeposit by using Annex 6 and checkingBoxes “b” and “d” and the appropriate boxunder “d” depending on whether or not thetrust institution has a settlement arrangement.3. On the same date, SRSO shallinstruct BTr to transfer the securitiesspecified to be withdrawn from the BSP-SES account to the RoSS account of the trustinstitution (or its settlement bank).4. BTr shall effect the transfer/withdrawal. At the end of the day, BTrshall send to SRSO a report which containsthe transfer/withdrawal.5. SRSO shall provide the appropriateBSP-SES department a copy of the report.6. The BSP-SES departmentconcerned shall check from the reportwhether BTr effected the withdrawal statedin the advice (Annex 4) sent earlier by thetrust institution.E. Procedures for Crediting InterestCoupon Payments. On coupon or interestpayment date, BTr shall instruct BSP-Accounting to credit the DDA of trustinstitutions or their designated settlementbanks for coupon/interest payment ofsecurities held under the RoSS account ofBSP-SES.F. Procedures for Crediting andWithdrawing the Redemption Value ofMatured Securities that are in the BSP-SES RoSS Account1. On maturity date, BTr shall instructBSP-Accounting to credit the depositaccount of BSP-SES with BSP-AccountingQ RegulationsAppendix Q-21 - Page 4Manual of Regulations for Non-Bank Financial Institutions