The Blue Files

I wrote this for the Far East Bank News in 1997 when I was just a Customer Service Associate III for Loans in our branch in Bagbaguin, Valenzuela City. It wasn’t published but if you were from the bank, I think you can relate to the terms used and also feel a little nostalgic. Thanks to my officers (Sylvia Torzar, Janet Blandura, Sir Ariel, Sir Cenon and Carrie Zuñiga for the term definitions). 

 

Have you ever looked at the trial balance and wondered what all those words and codes mean? I was filing these really tall ledgers in the branch, and I thought (which I rarely do), there has to be some sense to these codes – the truth must be in here. Through the help of my loan officer, here are some explanations to the mystery of the codes:

 

 

BD CLEAN

Short for Bills Discounted Clean. Contrary to what your officemate thinks, we don’t have Bills Discounted Dirty. The loan is termed “clean” because it has no collateral like land, house, building or car. Thus, it is clean as your pocket when you pay your FEB Master Card dues or you just had to date this really cool babe.

 

 

BD SECURED

Again, we don’t have BD Insecure loans, except when it always wants attention every time the loan is repriced (the interest is updated) or if the loans guy is constantly fluttering over at the teller’s booth. It’s “secured” because there is collateral, as in, it is co-terminus with an ISD/BIG or High Earner account, or what some bank oldies call “back-to-back.” There is a ready source of money for payment of the loan because you’ve placed the savings/deposit on hold for that particular loan.

 

 

TERM LOAN CLEAN

A loan that spans years, and has its principal (the whole loan amount) and the interest amortized (cut into little bite size pieces and spread over 3 to 5 years). Of course, our salary loan is also amortized but it does not span years, but the details for a term loan, like all other loans, depends on what the client wants it.

 

  

DOM BP-LOC/REG’L

There are no sexist undertones here, because there’s nothing dirty about DOM. It simply means Domestic Bills Purchase – Local / Regional. This is what your GL / Loans guy does when check proceeds are credited outright, without the usual two day clearing.

 

 

AIR

Very similar to the real thing: you can’t breath without it and your term loan has to have it to breath in interests for the Bank. It’s Accrued Interest Receivables. In contrast to Bills Discounted loans (interests are collected in advance), AIR for term loans are collected after the repricing period. It’s like inhaling after exhaling (yeah, like there’s a difference).

 

 

DOC STMPS-ON HND

Though the government is finding new ways to generate income, it has not imposed taxes on our hands. Doc stamps on hand are purchased in advance for the metering machine and is used for say, loan releases. Thus, the word “on- hand”, meaning available.

 

And while we’re at the subject of terminology, have you wondered want the word picos mean? I looked in my dictionary and it’s not there. Sure, we know it’s the last teller who handles all the loose changes (those bills and coins that cannot be bundled). We use it to describe that particular person, as in: “Cacai, you’re picos today.” Or, we use it to describe the actual cash: “O guys, I will count na the picos then we can make cash count na.” But what does it really mean?

 

Could it be that picos stands for Person In Charge Of Sukli, or Person In Charge Of Shortages (huwag naman sana!).

 

And what about the word “forged.” Have you ever used it in a memo or letter like, “Dear client, we have forged an agreement between your company and the bank…” Of course, it means they have made an agreement or contract. Or, it could also mean that they faked it.

 

I don’t know when the answer will finally be known, but if we keep searching and learning, the truth is out there.