PHILIPPINE DEPOSIT

INSURANCE CORPORATION
WHAT IS PHILIPPINE DEPPOSIT INSURANCE CORPORATION?

• A government instrumentality created in 1963 by Republic Act

3591, as amended, to insure the deposits of all banks.

• PDIC exists to protect depositors by providing deposit insurance

coverage for the depositing public and help promote financial
stability.

• PDIC is tasked to strengthen the mandatory deposit insurance

coverage system to generate, preserve, maintain faith and
confidence in the country's banking system; and protect it from
illegal schemes and machinations.
DEPOSIT INSURANCE
• The Corporation provides the maximum deposit insurance
coverage of Php500,000 per depositor per bank.

• In promoting financial stability, the PDIC is tasked to

continuously build up the level of the Deposit Insurance
Fund (DIF), the fund source for deposit insurance payouts
and financial assistance to banks, to enable it to
adequately respond to insurance calls.

• The assessments are collected from member-banks semi-

annually and form part of the DIF. The DIF is managed
through prudent investments, as provided in the PDIC
Charter.
• In the event of bank closures, PDIC
pays valid deposit accounts and deposit
insurance claims as soon as possible and
within the set turnaround time to
provide immediate relief to depositors.

• Its quality management systems on

claims settlement operations and
assessment of member banks are
certified under ISO 9001:2015
standards and at par with international
standards.. 
Liquidation of Closed Banks
• The PDIC is the statutory receiver and liquidator of closed banks. PDIC takes over
banks ordered closed by the Monetary Board; administers closed banks' assets,
records and affairs; and preserves and disposes these assets for the benefit of the
creditors and uninsured depositors.

• When the Monetary Board orders the liquidation of a bank that has been placed
under receivership, its assets are managed, liquidated, and distributed to creditors
and uninsured depositors according to the preference and concurrence of credits as
provided for by the Civil Code of the Philippines.
ASSETS FOR SALE
• The PDIC disposes of properties, equipment, and other types of assets as part of its
bank liquidator mandate and regular upgrading of corporate assets like computers,
furniture, and vehicles.

• The PDIC Assets for Sale microsite is an online catalog of real estate and other types
of properties, such as transportation equipment, memorial lots and generator sets.
Through the said portal, the Corporation disposes of such assets through electronic
public biddings and negotiated sales as part of its efforts to settle the claims of closed
bank creditors.

• The Unserviceable Properties & Equipment for Sale section is where the PDIC posts
Notices of Sale and Invitations to Bid for disposal of assets that the Corporation no
longer uses like computers, vehicles, and waste materials.
DEPOSITOR’S CORNER
• Believing that accurate and timely information is a way to empower
depositors, the PDIC makes available various information materials to
help better protect depositors such as the list of all PDIC member-banks
at a given cut-off date, the directory of banks offering Basic Deposit
Accounts (BDA) from the website of the Bangko Sentral ng Pilipinas, the
7 Habits of a Wise Saver, advisories on deposits and investments to guide
depositors, and the financial literacy guidebook Usapang Pera: Mga
Dapat Alamin. Specific information such as the Notices to
Depositors/Schedule of Payout Operations are also available to
depositors of closed banks.
7 HABIT OF A WISE SAVER
1. Know your bank

- Know the owners of your bank – the people behind it and the people who
manage it. Find out and ask about your bank’s finances and its strengths and
weaknesses. PDIC, BSP, SEC, and your bank’s websites, newspapers,
magazines, television and radio will provide most of the information you
need.

2. Know your bank products

- Understand where you place your cash. Don’t confuse investments with
regular deposits. Read and don’t hesitate to clarify with bank personnel terms
and conditions that are not clear.
3. KNOW YOUR BANKS’S SERVICES AND FEES

- Choose the right bank for you by knowing your needs and matching these
with your bank’s services. Be aware of bank charges and fees .

4. KEEP YOUR BANK RECORDS SAFE AND UPDATED

- Secure your passbook, ATM, certificate of time deposit (CTD), checkbook

and other bank records at all times. Have your passbook and CTDs updated
every time you do transaction. Inform your bank whenever there are changes in
your contact details to avoid bank mails with sensitive information getting into
the wrong hands.
5. TRANSACT ONLY INSIDE THE BANK WITH AUTHORIZED BANK PERSONNEL

- Do not hesitate tp ask personnel to present an ID and always ask for proof of your
transactions.

6. BE INFORMED ABOUT PDIC DEPOSIT INSURANCE

- PDIC guarantees deposits up to P500,000 per depositor. Investment products, from

unsafe and unsound banking practices are not covered by insurance.

7. BE PRUDENT

- Simply walk away from offers that are too good to be true. Generally, excessively
high interest rates carry more risks. Please refer to BANGKO SENTRAL NG PILIPINAS
for more information.
BORROWER’S CORNER
• Among the diverse set of stakeholders that PDIC serves are the
borrowers of closed banks. Their timely payment of obligations helps
optimize recovery during liquidation of closed banks. The PDIC
proactively informs borrowers that they are still required to pay their
loans and other obligations, notwithstanding the closure of the bank.

• To help borrowers settle their loans, the PDIC provides borrowers

with multiple loan-payment option and offers an incentive program to
encourage full settlement of outstanding obligations.
 BANKS’ CORNER
• Banks form part of PDIC's external stakeholders. To guide them in their compliance
with PDIC rules and regulations is the Compendium of PDIC Regulatory Issuances
and Bulletins which are disseminated to banks as well as posted on the PDIC website.
Orders for decals and standees may also be placed online using an electronic facility.
Deposit data are presented in their aggregate form also for use of banks. Banks
looking for potential investors and/or investees for their capital and business
expansion plans may avail of the PDIC's bank strengthening programs designed to
promote mergers, consolidations and acquisitions to fortify the banking system.
 BANKS STATISTICS

• PDIC regulations require member-banks to periodically submit reports to PDIC.

Banks are accountable for the accuracy of financial reports they submit to PDIC
from which featured industry statistics are derived. If a bank fails to submit the
report for the current period, the bank's most recent submitted report is used.
Timing differences in data generation principally accounts for the differences that
these statistics may have with reports of other agencies containing similar data.
Other details and/or explanation provided in the material should also be noted as
these may contain important information on how the figures were derived or whether
there were any procedural refinements applied to the data.
 REGULATORY ISSUANCES, BULLETINS AND MEMORANDA

• The PDIC releases regulatory issuances that provide member-banks with

specific guidelines on new rules and regulations being implemented by
the Corporation. Regulatory issuances provide guidance and ensure
member-banks' compliance to PDIC directives that are geared towards
further strengthening and stability of the banking system.
 FINANCIAL LITERACY INITIATIVES

• Anchored on its belief that financial literacy is a pre-requisite of inclusive growth,

the PDIC implements a wide range of initiatives aimed at empowering depositors to
make responsible financial decisions. These financial literacy initiatives are
undertaken with partner-agencies for various target audiences including high school
students, tertiary students who will soon be part of the labor force, employees and
retirees from the public and private sectors, and the depositing public in general.
 DISCLOSURES

• Among the ways in which good governance is constantly practiced and maintained in
the PDIC is through disclosures of information as required by the Governance
Commission for GOCCs (GCG), Civil Service Commission (CSC), Department of
Budget and Management (DBM) and Commission on Audit (COA).
 BIDS AND AWARDS

• The Bids and Awards section aims to promote transparency in the procurement
transactions of the Corporation. The subsection, Procurement Projects, is regularly
updated and contains all products and services that must be procured by PDIC to
support its operations. The Annual Procurement Plan is the blueprint of the year-long
projects and is updated when necessary, through a supplemental plan. For better
supervision of the procurement process, the Procurement Monitoring Report is also
uploaded in the website, along with the List of Observers and List of Blacklisted and
Delisted Suppliers.