MORNBFI Vol. 1 - Planters Development Bank

APP. Q-2108.12.31for the redemption value of securitiesthat mature while held as security depositin the RoSS account of BSP-SES.2. BTr shall send to SRSO a copy ofthe credit advice.3. SRSO shall immediately providethe appropriate BSP-SES department acopy of the credit advice.4. The responsible BSP-SESdepartment shall immediately informthe trust institution concerned of thecash credit and shall inquire whether thetrust institution intends to transfersecurities to the RoSS account of the BSP-SES to replace the matured securities.5. The trust institution shall advise theappropriate BSP-SES department that it willtransfer RoSS securities to BSP-SES inplace of the cash credited to the depositaccount of BSP-SES with BSP-Accounting for matured securities. Thetrust institution shall check Box “d” of theprescribed form (Annex 3). The concerneddepartment shall determine if the bookvalue of the securities to be transferred isequal to or greater than the cash credit.6. The trust institution shallelectronically instruct BTr to transfersecurities from its own RoSS accountsto the BSP-SES RoSS account and itscorresponding Client Securities Accounton the specified date. In the case of a trustinstitution with a settlement arrangement,the instruction shall be coursed throughthe settlement bank and the securitiesshall come from the RoSS account of thesame bank.7. BTr shall effect the transfer uponverification of RoSS balances. At the endof the day, BTr shall send a report to SRSOcontaining the transfer.8. SRSO shall provide theappropriate BSP-SES department a copyof the report.9. The BSP-SES departmentconcerned shall immediately check fromthe report whether the securitiestransferred to the BSP-SES account are thesame securities described in the advice(Annex 3) sent earlier by the trustinstitution. If in order, the Director (or inhis absence, the designated alternateofficer) of the Department shall direct theSRSO to instruct BSP-AccountingDepartment to debit the BSP-SES depositaccount and transfer the funds to the DDAof the trust institution (or its designatedsettlement bank). The Departmentconcerned shall use Annex 5 and checkBoxes “c” and “e”.The BSP-SES department concernedshall also advise the trust institution that ithas approved the replacement of maturedsecurities by using Annex 6 and checkingBoxes “c” and “e” and the appropriate boxunder “e” depending on whether or notthe trust institution has a settlementarrangement.10. SRSO shall direct BSP-Accountingto debit the BSP-SES deposit account andcredit the same amount to the DDA ofthe trust institution (or its designatedsettlement bank) using Annex 7.11. BSP-Accounting shall effect thetransaction and send a copy of the debitadvice to SRSO and a copy of the creditadvice to the trust institution (or thedesignated settlement bank).Manual of Regulations for Non-Bank Financial InstitutionsQ RegulationsAppendix Q-21 - Page 5