03 April 2007

Memorandum No. SSC-07-19

To: Deans, Directors, Head of Units, Faculty, Staff, REPS

Attention: Administrative Officers

Subject: Transfer of Payroll Account from the Philippine 
 National Bank (PNB) to Landbank of the Philippines (LBP) 
 or Philippine Veterans Bank (PVB)

-------------------------------------------------------------

Pursuant to the Department of Finance Order No. 27-05 dated 
 December 9, 2005, the Philippine National Bank (PNB) will 
 cease to become a government depository bank effective May 4, 
 2007. While PNB is trying to seek an extension, we are constrained 
 to effect the transfer of our payroll accounts from PNB to LBP 
 and/or PVB. Both LBP and PVB are accredited by the Bangko Sentral 
 ng Pilipinas as official government depository banks. Furthermore, 
 each bank has a branch and automatic teller machines inside the 
 Diliman Campus. All faculty and staff who presently maintain their 
 payroll account with PNB are therefore directed to indicate in the 
 attached survey list their preferred bank by affixing their 
 signature under the column of their chosen bank.

Please return the fully accomplished survey list to the Office of 
 the Vice Chancellor for Administration not later than 5:00 p.m. 
 of April 13, 2007.

Those who fail to submit their bank preference will be paid their 
 salaries through checks,

SERGIO S. CAO
Chancellor

*no attachment