Guidelines on Temporary Measure Allowing Banks to Withdraw Currency Directly from BSP During Calamity and Emergency Situations

To Subject BANGKO SENTRAL NG PILIPINAS OFFICE OF THE DEPUW GOVERNOR I RECIONAT OPERATIONS AND ADVOCACY SECTOR MEMORANDUM NO. M.2O26. OI5 All Banks Guidelines on the Temporary Measure Allowing Banks not Registered in the Philippine Payment and Settlement System Plus and/or the Integrated Currency Management System to Withdraw Currenry Directly from the Bangko Sentral ng Pilipinas during Calamity and Emergency Situations Pursuant to Circular No. 1221, series of 20.25,1on the Amended Flegulatory Relief Policy of the Bangko Sentral ng Pilipinas (BSP),'z the following guideliness are hereby issued to provide guidance on the temporary measure allowing banks not registered in the Philippine Payment and Settlement System Plus (PhilPaSgtu') and/or the Integrated Currency Management System (ICMS) to withdraw currency directly from the BSP during calamity and emergency situations, effective until 3l December 2027. l. Conditions fur CurrencyWthdrawal Under this temporary measure, the currency seruicing units (CSUs)a of banks not registered in PhilPaSgtu'and/or ICMS may withdraw currency directly from the BSP regional office or branch (ROB) having jurisdiction over their location under the following conditions: Calamlty and emeryBncy Sltuatiofis Cunurrcy Wtthdrsral Poriod l. A state of calamity is declared covering the city or municipality where the CSU is located . Upon resumption of work during the state of calamity; and r Within five (5) working days after the lifting of the state of calamity 2. Work suspension is declared in the city or municipality where the CSU is located due to calamities, related incidents, or emergency situations that significantly disrupt banking operations in the area Within five (5) working days upon resumption of work Operating hours of BSP ROBs for servicing currency withdrawals under this temporary measure are, as follows: a. BSP Greater Manila Regional Office - 9:OO a.m. to 4:OO p.m. b. Provincial BSP ROBs - 9:OO a.m. to 3:OO p.m. Submission, Processing, Validity, and Updating of Authorization Documents Prior to the CSU's initial currency withdrawal transaction, banks shall submit to the BSP the required authorization documents for each CSU, subject to the approval of the Head of the Regional Operations Sub-Sector (ROSS). 1 As approved per Monetary Board Resolution No. 1024 dated 16 October 2025. 2 As provided under Section 1151 of the Manual of Regulations for Banks (MORB). 3As provided under Circular No. 1221, series of 2025, the BSP reserves the right to impose additional documentation or procedural requirements, as necessary. In view thereof, enhancements have been incorporated into the guidelines to provide greater clarity and to further facilitate the currency withdrawal of banks under this temporary measure. a CSUs pertain to the head office, cash center, or branch of the banks, which engage in currency deposit and/or withdrawal transactions directly with the BSP ROBs. However, for this temporary measure, currency transactions of CSUs shall only pertain to currency withdrawals directly from the BSP ROBs. il.

A. Submission to the BSP t. To ensure that their CSUs can directly withdraw currency from the BSP during calamity and emergency situations, banks are highly encouraged to submit the authorization documents in advance or at least three (3) working days prior to the CSU's initial currency withdrawal transaction. 2. The bank's head office shall submit to ROSS5 the following authorization documents for each CSU: a. Two (2) original copies of Secretaqy's Certificate6 on the bank's Board Resolution containing the following: i. Approval rules and corresponding withdrawal limits for the CSU's cu rrency withd rawa I tra nsactions; ii. Delegation of authority to at least one (l) officer who shall be the authorized approver/s of the CSU's currency withdrawal transactions; and iii. Delegation of authority to at least one ('l) officer who shall be the authorized authenticatorA of the specimen signatures of the CSU's authorized approver/s. b. Two (2) original copies of specimen signature forms of authorized approvers. 3. The above documents shall be enclosed in a sealed envelope and accompanied by a cover letter. The cover letter shall be addressed to: MS. ROSABEL B. GUERRERO Assistant Governor Regional Operations Sub-Sector Bangko Sentral ng Pilipinas Floom 3O5,3rd Floor, Multi-Storey Building A. MabiniSt. cor. P. Ocampo St. Brgy.Tl8, Malate, Manila lOO4 Flequest for expedited processing, with justification, may be included in the cover letter. 4. The cover letter shall be printed on the company letterhead and shall be duly signed by an authorized authenticator. lt shall contain all the following information: Date; Name of the CSU; Board Flesolution Number; Number of copies/sets of the approvaldocuments; Name, designation, contact number, and email address of the bank's officer whom the BSP shall contact regarding the processing of submitted authorization documents; and f. Justification on any request for expedited processing, if applicable. 5. The Secretar/s Certificate shall be printed on the company letterhead and shall be duly notarized. lt shall contain all the following information: a. Details and authority of the Corporate Secretary; b. Board Flesolution number and details of the Board Flesolution; c. Approval rules, withdrawal limits, and authorized approvers, which shall be in accordance with any of the prescribed structures (single, tiered, or matrix approval), as follows: lf the bank's head office is nearer to a BSP ROB than the BSP Head Office, the authorization documents mav be submitted to the said BSp ROB. An Assistant Secretary's Certificate may likewise be accepted, provided that the authority is expressly indicated in the document. a. b. c. d. e. Classification: GENERAL Page 2 of6

Apprulral Rulee Wlthdrawal Llmlte Transactlon Llmlts Authorlaad Approrers Single approval (Approved byany Approver) Single maximum withdrawal limit per day One or more transactions per day At least one (l )Approver Tiered approval (Approved by Approverl and Approver2) Single maximum withdrawallimit per day One or more transactions per day At least one (l) Approver I and at least one (l ) Approver 2 Note: The authorityof Approver I and Approver 2 shall not be delegated to the same offtcer. Matrix approval (Approved byany combination of two (2) approvers whether from the same ordifferent Approver Class [e.9., ClassA, B, C or DJ, as determined bythe bank) Each combination has different withdrawal limits per day; The maximum limit shall be the highest withdrawallimit per day among the combinations. One or more transactions per day Minimum numberof Approvers per Approver Class based on the approval matrix Note: lf the number of Approvers perApprover Class is not enough to meet the requirements of the approual matrix, thesameshall be revised. d. Names, positions and approving authority of authorized aFproverA; and e. Names, positions and signatures (3 signatures each) of all authorized authenticators. 6. The specimen signature form shall be printed on the company letterhead and shall be duly signed by at least one (l) authorized authenticator, whose signature/s shall be dated. lt shall contain all the following information: a. Name of the CSU; b. Board Flesolution Number;and c. Names and signatures (3 signatures each ) of all authorized approvers; The names of the authorized approvers shall be consistent with those indicated in the Secreta4y's Certificate. lf two (2) or more specimen signature formsT are used, the authentication in all forms shall be the same. 7. For consistency, banks shall use the prescribed BSP templates for the cover letter,s Secretary's Certificate,e and specimen signature formro. Editable copies of the templates may be requested from ROSS through ross￾ha nkdocu mentsprocessi ng@bs p.gov.ph. 8. The bank's head office shall ensure that all submitted documents are complete and correct. B. Processing of Submitted Documents '1. lf submitted documents are in order, the BSP shall notiff the bank of the approval through the email address of the bank's officer provided in the cover letter, within the following timelines: 7 lf the number of authorized approvers exceeds four (4) signatures. 8 Annex A - Cover Letter template e Annex B - Secretary's Certificate template 10 Annex C - Specimen Signature Form template Classification: GENERAL Page 3 of 6

a. For regular submissions - within three (3) working days from receipt of the documents; or b. For expedited requests - within the same day if documents are received on or before l2:OO noon, or on the next working day if received thereafter. 2. The bank's head office shall acknowledge BSP's notice of approval and inform the concerned CSU. 3. Incomplete or deficient submissions shall be addressed by the bank's head office within the timeline prescribed by the BSP. Processing shall commence upon resolution of the identified issues and/or receipt of compliant documents. C. Validity of Approved Documents l. Approved documents shall take effect: a. For regular submissions - on the next working day after notice of approval; or b. For expedited requests - on the same day of approval. 2. Approved documents shall remain valid until 31 December 2O27 unless superseded by updated submissions. D. Updating of Documents l. The bank's head office shall submit updated documents prior to the next withdrawal transaction in case of changes in: a. Approval rules, withdrawal limits, or authorized approverA; b. Authorized authenticator if the specimen signature form is authenticated by only one (l) authenticator; or c. Allauthorized authenticators if thespecimen signature form is authenticated by more than one (l) authenticator. lf at least one remains unchanged, the documents remain valid. 2. BSP shall not be liable for issues arising from the bank's failure to update its authorization docu ments. lll. Currency Wthdrawal of Banks CSUs with approved and valid authorization documents shall be allowed to withdraw currency directly from the BSP ROB under this temporary measure. A. Pre-transaction Requirements l. CSUs are highly encouraged to email their currency request to the BSP ROB on or before 4:OO p.m. of the working day immediately preceding the scheduled withdrawaldate. 2. CSUs are not required to post their currency requirements in the Cash Service Alliance (CSA) Portal. B. Submission of Currency Withdrawal Documents l. CSUs shall prepare the following currency withdrawal documents: a. Two (2) original copies of manually prepared Cash Order Slip/s (COS)tt to document their currency request; and b. Two (2) original copies of Authority to Withdraw (ATW)I2 to document the following: i. authority of the bank representativer3 who will withdraw the currency from the BSP ROB; Lr Annex D - Cash Order Slip/s template Lz Annex E - Avthority to Withdraw template 13 May either be one ofthe authorized approvers or their other bank personnel. Page4of6 Classification: GENERAL

ii. authority of other bank personnel who will provide assistance in the hauling of currencywithdrawn; and iii. details of the armored vehicle which will be used for the currency withdrawal. 2. For consistency, CSUs shall use the prescribed BSP templates for COS and ATW which shall be provided by ROSS upon approval of their authorization documents. 3. The COS shall be duly signed by the authorized approver/s and bank representative. lt shall contain all the following information: a. COS number: b. Name of CSU; c. Date of withdrawal; d. Amount in words; e. Amount in figures; f. Name and signature of bank representative; g. Names and signatures of authorized approvers; and h. Breakdown of currency request in boxes/bundles (for notes) and in bags (for coins). The approval and amount in the COS shall be in accordance with the Secretary's Certificate. The signatures of the authorized approvers in the COS shall be consistent with the specimen signature form. 4. The ATW shall be duly signed by the authorized approver/s and bank representative. lt shall contain all the following information: a. Date; b. Authority of the bank representative who will withdraw the currency; c. COS number; d. Amount in words; e. Amount in figures; f. Authority of the other bank personnel who will provide assistance in the hauling of currency withdrawn, as applicable; g. Certification that the above personnel have undergone background investigation and have been dulyverified as fit, proper, and qualified to carry￾out currency withdrawal transactions with the BSP; h. Plate number of the armored vehicle to be used: and i. Name of the driver of the armored vehicle. The details and signatures in the ATW shall be consistent with the COS. 5. On the day of currency withdrawal, the CSU's authorized representative shall proceed to the premises of the BSP ROB concerned within the prescribed operating hours and submit the currency withdrawal documents. 6. CSUs shall ensure that all submitted documents are complete and correct. C. Processing of Transactions l. Upon receipt of currency being withdrawn, the authorized bank representative shall inspect and count the currency as follows: a. Sealed boxes of new currency banknotes - per box; b. Bundles of new and fit currency banknotes - per bundle; and c. Currency coins - per bag. 2. Receipt of withdrawn currency shall be acknowledged by the authorized bank representative in the processed COS. 3. After acknowledging receipt in the processed COS, the authorized bank representative may, while inside the premises of the BSP ROB: Classification: GENERAL Page 5 of6

a. Open sealed boxes of new currency banknotes to check the denomination and conduct bundle and wrapper count; b. Conduct wrapper count for bundles of new and fit currency banknotes; and c. Open sealed bags of currency coins to check the denomination. 4. In case of discrepancies, the authorized bank representative shall immediately inform the BSP personnel assigned to release the currency. 5. Discrepancies must be reported within three (3) working days from the date of withdrawal; otherwise, the withdrawal shall be deemed in order. Service Fees, Penalties and Rebates/ ncentives l. Currency withdrawal transactions under this temporary measure shall be subject to service fees under Section 1lO3 of the Manual of Regulation for Banks (MORB), as follows: Denomlnation Selice fee oer h"rndle {in Phol Neul Flr IOOO-piso 200.oo t40.oo 50O-piso 'loo.oo 70.oo 20O-piso 40.oo 28.OO IOO-piso 20.oo l4.oo 50-piso lo.oo 7.OO 20-piso 4.OO 3.OO Penalties on cancellation of currency withdrawal shall not be applicable for transactions under this temporary measure. Upon compliance with the registration and documentary requirements,ra CSUs may opt to deposit currency with BSP FlOBs, subject to applicable service fees. Service fees charged under this temporary measure shall be eligible for rebates, refunds, or incentives for the CSU's unfit currency banknote deposits, in accordance with Section llOS of the MORB. V. EFFECTIVIry These guidelines shall take effect immediately and remain in force until 3I December 2027. For guidance and compliance. AApril2o26 la The fof lowing requirements must be complied: 1) registration of the bank in PhitPosspt'";2) registration of the CSU in ICMS; 3) approval of the authorization documents of the CSU; and 4) securing of BSP Security Pass lD for the CSU's authorized bank representatives. lv. 2. 3. Classification: GENERAL Page 6 of6

ICOMPANY LETTERHEADI (adjust spaces as necessary) m RC'SABEL B. CUERRERO Assistant Governor Regional Operations Sub-Sector Bangko S€ntral ng Pllipinu Room 5O5,3'd Floor, Multi-Storey Bultding A Mabini St cor. P. Ocampo St Brgy.7|8, Malate, Manila lOO4 Elear AsElrtrnt Gormor Gurnrro: Wearesubm|tt|ngthetheauthor|zat|ondocumentsof containlng the fullowing: a. nlro_lA origlnal copies rif notarlzed Secretarfs Certlficate on the Boad Resolution tto.S ana b. nvo (2) orlglnal sets of authenticated speclmen signature forms of authorlzed approvers. This submission supersedes all prwious authorizations and shall be recognlzed untll wrltten notice of rwocatlon or modlfication ls recelved. (For rquest br expdited processing ) Wea|sorequestbrtheexpeditedprocessingoftheabovedocumentsd,"toffi. For matters regardlng the proceslng of submltted documents, your Office may coordinate with: Name Designation Contact No. EmailAddress Thankyou. Verytrulyyours, Prgcl ofl

ICOMPANY LETTERHEAD] Republic of the Philippines City of _ x ------------ --------------- x SECR ETARYS CERTI FICATE l, INAME OF CORPORATE SECRETARY], of legal age, Filipino, with office address at [office address of the Corporate Secretary], after having been duly sworn in accordance with law hereby certiff that: l. I am the Corporate Secretary of the [name of bank] (the 'Bank"), a [type of bank] banking corporation duly organized and existing under and in accordance with the laws of the Republic of the Philippines, with principal office at [office address of the bank]. 2. As such Corporate Secretary, I am the custodian of the corporate books and records of the Bank, including the minutes of meetings and resolutions of its Board of Directors (the'Board'). 3. During the regular meeting of the Board of Directors on ldate of meeting ], at which meeting a quorum was present and acting throughout, the following resolution was approved: lResolution No. _l Auhtority br the Currency Wthdrawal of [name of currency servicing unitl directly from the Bangko Sentral ng pilipinas [name of BSp regional office or branchl during Calamity and Emergency Situations, pursuant to the Amended Regulatory Relief Policy of the BSp RESOLVED, that the Board hereby authorizes the [name of currency seruicing unit] (the "CSU') to transact currency withdrawal directly with the BSP lname of BSP regional office or branch] (the'BSp ROB') during calamity and emergency situations, pursuant to the Amended Flegulatory Relief Policy of the BSP as provided under Section lI5I of the Manual of Regulations for Banks. RESOLVED, FURTHER, that the Board approved the approval rules and withdrawal limits of the CSU. as follows: Apprwal Rules Wthdrarrvel Lim?ts Transactlon Umits Authorized Aooranrer= (sample on/v) Single approval PhplOO,ooo,OOO.Oo per day One (l ) transaction per ciav Any Approver Tiered approval PhploO,OOO,ooO.OO per day One ('l) transaction per dav One (l) Approver I and one (l) Aoorover 2 Matrix approval PhpIOO,OOO,OOO.OO per day (maximum limit per dav) Two (2) transactions per day Two (2)Class A ) )s.s. Classification: GENERAL

Apptwal Rules Wthdraml Llmltg Transaction Llmlts Arthortzad Annmrnrs Php5O,OOO,OOO.OO oer dav One (l ) Class A and one (l ) Class B Php2o,oOO,ooo.OO per day Two (2) Class B XXX RESOLVED, FURTHER, that the Board approved the delegation of authority to the following officers, whose respective positions and approving authorities appear beside their names, to sign and approve the currency withdrawal documents of the CSU and to authorize the bank representative who will withdraw the currency from the BSp ROB: i*ame Foeltion Aoorovlno Authorltv (sample only) I Approver (for sinqle approval) 2. Approver 1 or 2 (for tiered approval) 3. Class A, B, C, D {for matrix aooroval) XXX RESOLVED, FINALLY, that the Board approved the delegation of authority to the following officers, whose respective positions and signatures appear beside their names, to authenticate the specimen signatures of the CSU's authorized approvers: Hame trosltlon Saeclrnen Sionahrmg 2. 3.

1.,;i:;ai{i&:i;.jr r' e:.: ..t..; The abrcsaid resolutionE aro valid and eftctine as of date. lN WITNESS WHEREOF, I have hcreunto affixed my signature this _ day of at the Phllippines. ST BSCRIBED AND S,'ORN to bcture me this exhlbiting to me hiq/her lvalid govemment-issued _ day of , affiant lDl issued on _ at NOTARY PI'BI.JC Doc.No. _ Pagn No. _ Book No. Serles of Corpor.te Secretary

ICoMPANY LETTERHEAD] (adjust spaces as necessary) SPECIMEN SICNAruRE FORM r ril r^"'Tl fl, J?s:l'il'3.H;syJHfl #3':ril%'lffi provided hlow: Authentlcated by: Pag€l off

IcoMPANY LETTERHEADI (adjust spaces as necessary) Cash Order Withdrawal under the Amended Slip Bank: Date of Withdrawal: Amount in words: Amount in figures: GOS No. Bank Representative: Authorized Approvers: Time of Arrival: [Narre of Bank Representative] WITHDRAWAL DETAILS NOTES corNs Denomination Quantity (in bo/bundles) Amount Denomination Quantity (in bags) Amount 1000-piso 20-piso 500-piso 10-oiso 200-oiso 5-oiso 100-oiso 1-oiso 50-piso 25-sentimo 20-piso 10-sentimo 5-sentimo 1-sentimo Sub-total Sublotal Grand total Section I : WITHDRAWAL APPROVAL AND DISPATCH (To be accomplished by BSP) Resoonsible Name Time Status Signature SETTLED AND AUTHENTICATED APPROVED INSPECTED AND DISPATCHED Section II: CONFIRMATION AND ACKNOWLEDGEMENT (To be accomplished by Bank Representative) ACKNOWLEDGED The above currency was not piece-counted within the premises of the BSP ROB. Once the Bank Representative leaves, the client bank is given three (3) working days from the date of withdrawal within which to file for complaint, if any. Beyond this 3-day period, the client bank waives its right to file any complaint on currency discrepancy and the BSP shall no longer accept any complaint on discrepancy arising from quality, quantity and denominational content from the client bank. Authorize Bank Representative (signature over printed name)

IcoMPANY LETTERHEADI (adjust spaces as necessary) lDatel lName of Area/Deputy Directorl t Deputy/erea Di rector I lNarne of BSP regional office or branchl Dear [pspuer/ftres D,trac$l [sumameaf OexxrU/Ale Direchrl: (if one of the authorized approvers wi// withdraw the currency) We inform that [Mr./Ms.] [name of authorized approver], one of our authorized approvers, will withdraw currencyfrom your Office pursuant to our request per Cash Order Slip No. _-, with the following details: (if an authorized bank representative wi// withdraw the currency) we authorize [MrlMs.J lname of of bank representative], whoselignature appears below, to withdraw currency from your Office pursuant to our request per Cash Order Slip No. _, with the following details: Amount in words : [amount in words] pesos only Amount in figures : Php[amount in figurgsl (if other bank personnel will provide assistance in the hauling of currency withdrawn) In addition, we also authorize the following personnel to provide assistance in the hauling of currency withdrawn: I. 2. 3. We certiff that above personnel lhaqfrravel undergone background investigation and lhaslhavel been duly verified as fit, proper, and qualified to carry-out currency withdrawal transactions with the BSP. For information, we are also providing the details of the armored vehicle which will be used for our currency withdrawal: Plate No. : Name of Driver : Thank you. Very truly yours, <siqnature over nrinted natrle> <signature over printed naffte> lHame of Authorlzed Appror,"rl lHame of Authorieed Apprqverl (if an authorized bank representative will withdraw the currency) Authorized Ba nk Representative: <signature over printed name> lNamel Page I ofl