January 11, 2017

Philippine Deposit Insurance Corporation (PDIC) employee representatives distributed tarpaulins for house repairs to the residents of Barangay Batalay, Bato, Catanduanes, one of the towns hardest hit by Typhoon Nina last December 25, 2016. The residents flash their thumbs up sign with Mayor Leo R. Rodriguez (front row, second from left) and the PDIC representatives. Sacks of rice were also turned over by the PDIC representatives to the municipal government for the continuing relief operations.

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The Philippine Deposit Insurance Corporation (PDIC) was established on June 22, 1963 by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing permanent and continuing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is P500,000 per depositor. All deposit accounts by a depositor in a closed bank maintained in the same right and capacity shall be added together. A joint account shall be insured separately from any individually-owned deposit account.