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TO :All Banks and Depositors
SUBJECT :Rules Governing Requests for Reconsideration of Denied Deposit Insurance Claims

Pursuant to its authority under Section 8(10) of Republic Act No. 3591, as amended (PDIC Charter), and to further implement the applicable provisions on the settlement of insured deposits, the PDIC Board of Directors by virtue of Resolution No. 2011-03-043, dated March 30, 2011, approved the promulgation of the following rules and regulations for the filing of requests for reconsideration for denied claims for deposit insurance.

Section 1. Statement of Policy

PDIC is tasked to promote and safeguard the interests of the depositing public by way of providing permanent and continuing insurance coverage on all insured deposits, and in helping develop a sound and stable banking system at all times. To this end, the PDIC shall pay all legitimate deposits held by bona fide depositors and provide a mechanism by which depositors may seek reconsideration from the decision of the PDIC denying a deposit insurance claim.

Section 2. Coverage.

This Regulatory Issuance shall apply to all deposit insurance claims denied by PDIC either wholly or partially.

The procedure laid down in this Regulatory Issuance shall likewise apply to Section 4(d)(4) of Regulatory Issuance 2011-02 entitled “Rules & Regulations Governing Deposit Accounts or Transactions Excluded from the Coverage of Deposit Insurance”.

Section 3. Request for Reconsideration of Denied Claims

All requests for reconsideration shall be:

  1. filed within sixty (60) days from receipt of the notice of denial of the claim;

  2. addressed to the Sector Head of the Deposit Insurance Sector of the PDIC; and

  3. in the following form:

    1. in writing and verified under oath (see prescribed form);

    2. accompanied by the original or certified true copies of the documents that would support the deposit/s made in the bank such as, but not limited to, negotiated checks, copies of validated deposit slips for deposits made in the closed bank or those directly made to its depository bank, official receipts, deposit agreements, bank statement/statement of accounts, or other documents evidencing receipt of funds by the closed bank other than the evidence of deposits. The supporting documents must be new evidence that were in existence prior to the closure of a bank and which have not been submitted to the PDIC at the time of the filing of the claim/s for deposit insurance.

The request shall contain a statement authorizing the PDIC and its officers, employees or agents to examine, inspect or inquire into any or all of bank deposit records in any bank relative to the claim for deposit insurance in order to check the authenticity and veracity of documents submitted and allegations made in support of the request. It shall also contain an express waiver of the provisions of Republic Act No.1405, as amended, Republic Act No. 6426, as amended, Republic Act 8791, and other similar laws on the confidentiality of bank deposits.

Section 4. Action on the request

Upon receipt of the request for reconsideration, PDIC may, at its option:

  1. Dismiss the request on any of the following grounds:

    1. For being filed out of time;
    2. For failure to comply with the prescribed form; or
    3. For failure to submit supporting documents

  2. Require submission of additional documents; or

  3. Call for clarificatory meeting.

Section 5. Decision on the Request for Reconsideration

The PDIC shall have one hundred twenty (120) days from the issuance of the notice submitting the request for reconsideration for resolution within which to issue its Decision.

Section 6. Finality of Decision

Request for reconsideration filed after the lapse of the sixty (60) day period shall no longer be entertained by the PDIC and the decision of the PDIC denying the deposit insurance claim/s shall be deemed final.

Section 7. Remedy in Case of Denial of Request for Reconsideration

A depositor whose request for reconsideration is denied by the PDIC with finality shall have thirty (30) days from receipt of the notice denying the request for reconsideration within which to file a petition for certiorari with the court pursuant to Sec. 4(g) of the PDIC Charter.

Section 8. Duties of the Bank

All Banks shall, within forty-five (45) days from date of effectivity of this Regulatory Issuance:

  1. Inform all its depositors of these rules by permanently and continuously posting a copy of this Regulatory Issuance in conspicuous places within bank premises;

  2. Submit a report of compliance signed and certified by the Banks’ Compliance Officer. Non-compliance with, or violation of, this section shall subject the banks and its responsible directors, officers, or employees to the imposition of administrative fines in accordance with Section 21(f) of the PDIC Charter, as implemented by Regulatory Issuance No. 2005-03.

Section 9. Repealing Clause

All issuances, rules and/or regulations of the PDIC which are inconsistent with this Regulatory Issuance are hereby repealed or amended accordingly.

Section 10. Effectivity

This Regulatory Issuance shall take effect fifteen (15) days after publication in a newspaper of general circulation in the country.

For guidance.


June 15, 2011

Downloadable Proforma Request for Reconsideration on Denied Claims (June 2011)

Downloadable Proforma Request for Reconsideration on Denied Claims (Revised November 2017)


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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