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Deposits are insured by PDIC up to P500,000 per depositor
PDIC is an attached agency of the Department of Finance
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Mandates and Functions

PDIC is a government instrumentality created in 1963 by virtue of Republic Act 3591 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.

Consistent with its public policy objectives, the PDIC has the following mandates:

I. Deposit Insurance. The PDIC provides a maximum deposit insurance coverage of PHP500,000 per depositor per bank. To pay insured deposits, the PDIC builds up the Deposit Insurance Fund primarily through assessments of member-banks at an annual flat rate of 1/5 of 1% of their total deposit liabilities.

II. Examination and Resolution. The PDIC works closely with the Bangko Sentral ng Pilipinas (BSP) to help maintain stability in the banking system. PDIC is authorized to issue regulations to implement its Charter, conduct bank examinations and investigations to assess financial safety and soundness of banks and their adherence to banking and deposit insurance rules and regulations, and extend financial assistance to eligible distressed banks.

III. Receivership and Liquidation. The PDIC is the statutory receiver and liquidator of closed banks. Upon order of the Monetary Board of the BSP, PDIC takes over closed banks; administers their assets, records and affairs; and manages and preserves these assets for the benefit of the closed banks' creditors. Under RA 10846 or the amended PDIC Charter, a closed bank transitions seamlessly from closure to liquidation, enabling PDIC to dispose and distribute assets and settle claims of creditors in accordance with the preference and concurrence of credits as provided by the Civil Code of the Philippines.

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PDIC is a government instrumentality created in
1963 by virtue of 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
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Questions? Need Help? Click Frequently Asked Questions Trunkline.: (632) 8841-4000
Hotline: (632) 8841-4141
(for Metro Manila clients)
Fax No.: (632) 8841-4085
Email: pad@pdic.gov.ph
Client outside Metro Manila may call
Toll Free: 1-800-1-888-7342 or
1-800-1-888-PDIC