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Serial Number Requirement

Date

Requirement Id Requirement

Type

Source of the

Requirement

(Bank Resource)

Single/Multi

Country

Requirement

3 5/6/2014 CR061-(a) High Value

Cheque Clearing

Business

Requirement

DRG Single

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Specify the

countries

Impacted

Channels

Mauritius Branch CBS Clearing Payments

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Requirement Description 1

High Value Cheques Process

Bulk Clearing System (BCSX) will identify high value cheques which will undergo a fast track clearing. The

procedures for handling high value cheques are described hereunder:1. Banks will send a normal batch of cheque payments to the system

2. The BCS will identify the high value instruments from the batch and split the batch into two batches, normal

settlement and one for priority settlement. The total amount presented for clearing will be adjusted

3. The batch containing high value cheques will be sent to the paying bank for decision making.

4. The paying bank will return the batch to the BCS with approval and rejection codes, as appropriate, before the

high value cut-off time.

5. Cheques which are rejected by the paying bank (with reason codes) will not be settled. The presenting bank

will be notified of this decision.

Further, there are four clearing sessions, As per Bank of Mauritius, bank can send cheques in any

Session. System should support multiple files upload.

Four clearing sessions are linked to specific timings i.e. 10 AM, 12 AM, 3 PM and 4 PM.

High value cheques received in first two sessions has to be returned on same day and for other two sessions it

will be returned next day.

In specific cases, even for last two sessions, can be marked as to be returned and other bank would be informed

through BOM massager.

At present high value cheques are the cheques with value of 1 Million and above. This value is parameterisable.

For session 1 & 2, BOM would send the separate files for cheques below and above 1 Million.

For session 3 & 4, BOM would send a single file for cheques below and above 1 Million

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Supporting Documents Banks remarks Requirement Status

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Requirement Description 2 Additional Information Third Party

System

Solution

Classification

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Recommended

Solution

Bank's Status Bank's Remarks HP Remarks

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Solution Status Regulatory (Y/N) Risk & Compliance

(Y/N)

Existing Functionality

(Y/N)

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Customer Impact

(H/M/L)

Profitability Impact

(H/M/L)

Release

Recommendation

Customization

Complexity

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Customization

Effort

Data Migration Impact Remarks

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Requirem

ent Id

Requirem

ent Type

Source of

the

Requirem

ent

(Bank

Resource)

Single/Mu

lti

Country

Requirem

ent

Specify

the

countries

Impacted

Channels

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Requirem

ent Id

Requirem

ent Type

Source of

the

Requirem

ent

(Bank

Resource)

Single/Mu

lti

Country

Requirem

ent

Specify

the

countries

Impacted

Channels