The Philippine Deposit Insurance Corporation (PDIC), pursuant to Section 10 (d-1)* of Republic Act No. 3591 as amended, promulgated Regulatory Issuance (RI) No. 2015-01 on Computerized Records of Bank deposits which took effect on 27 February 2015.

Towards ensuring compliance with RI No. 2015-01, all banks are hereby reminded of their representations and commitments under their respective plans to have the following facilities in place:

1. computerized database system where updated and accurate depositor/deposit information and deposit transactions for each and every deposit account are maintained and safely stored for five (5) years from date of transaction;
2. a facility that can readily generate the Deposit Account View with the depositor and deposit information in the form specified in Annexes A and A.1 of RI No. 2015-01; and
3. a backup and recovery system for the depositor and deposit information, and deposit transactions in accordance with the disaster recovery and business continuity plan guidelines and requirements of the Bangko Sentral ng Pilipinas.

For further inquiries, please contact the Insurance Department at telephone numbers 841-4211 and 841-4206.

* “Each insured bank shall keep and maintain a true and accurate record or statement of its daily deposit transactions consistent with the standards set by the Bangko Sentral ng Pilipinas and the Corporation.”