|FREQUENTLY ASKED QUESTIONS|
|If the deposit account in a closed bank is more than P500,000.00, what happens to the excess of the maximum amount of insured deposit?|
The claim for the uninsured portion of the deposit is a claim against the assets of the closed bank.
The claim may be filed with the Liquidator of the closed bank within sixty (60) days from publication of notice of closure. However, payment of said claim will depend on the bank’s available assets and approval of the Liquidation Court. The schedule of payment beyond the P500,000.00 maximum insurance shall be based on priorities set by law.