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Philippine Deposit Insurance Guide

The document outlines the Philippine Deposit Insurance Corporation (PDIC) Law and its provisions regarding insured deposits. The PDIC protects bank deposits and assumes the risk of losses if a bank fails. Insured deposits are determined per depositor according to rules on calculation of liability, such as the per depositor per capacity rule for joint accounts. Uninsured deposits may still attempt recovery through legal means. The PDIC plays a role in bank closures through conservatorship, receivership and liquidation proceedings, relating to similar provisions in banking laws and rules on liquidating closed banks.

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48 views1 page

Philippine Deposit Insurance Guide

The document outlines the Philippine Deposit Insurance Corporation (PDIC) Law and its provisions regarding insured deposits. The PDIC protects bank deposits and assumes the risk of losses if a bank fails. Insured deposits are determined per depositor according to rules on calculation of liability, such as the per depositor per capacity rule for joint accounts. Uninsured deposits may still attempt recovery through legal means. The PDIC plays a role in bank closures through conservatorship, receivership and liquidation proceedings, relating to similar provisions in banking laws and rules on liquidating closed banks.

Uploaded by

MarrenSalvador
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Philippine Deposit Insurance Corporation Law

I. Basic policy and powers

What is the legislative policy behind the PDIC Law?

What are the primary functions of the PDIC?

What are insured deposits?

Are the principles and law on insurance applicable to insured deposits? Who are the insured? Who is the
insurer? Who are the beneficiaries? Who pays the premium? What is the risk insured against? Who
assumes the risk? Is deposit insurance mandatory? What are the required insurance contracts under the
law? Review your law on insurance.

II. Liability of depositors

What are the liabilities required to be insured by the PDIC? When does the liability commence?

What deposit accounts are not entitled to payment? How do you determine insured deposits?

What is the extent of liability?

What are the rules on calculation of liability? Note the following: (i) per depositor, per capacity rule, (ii)
joint accounts, (iii) mode of payment, (iv) effect of payment of insured deposits, (v) payment of insured
deposits as preferred credit, (vi) failure to settle claim of insured depositor, and (vii) failure of depositor
to claim insured deposits. What are the remedies when the PDIC denies the claim?

What happens to uninsured deposits? Can you still recover the uninsured deposits? How?

What is splitting of deposits? When is there a presumption of splitting of deposits? What is the effect of
splitting deposits?

III. Role of the PDIC in relation to banks in distress

What is the role of PDIC during closure and takeover? Conservatorship? Receivership? Liquidation?

Relate to the provisions on conservatorship, receivership, and liquidation in the New Central Bank Act.

Read A.M. No. 19-12-02-SC or the Rules on Liquidation of Closed Banks effective April 16, 2020.

Read the assigned cases.

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