Pursuant to Republic Act 10846 further amending Republic Act 3591, which became effective on 11 June 2016, the obligations of a depositor are no longer netted out from his/her total deposits in the closed bank for purposes of computing insured deposit. By reason thereof, PDIC Regulatory Issuance No. 2011-04 on Rules on Net Out of Obligations to Determine Insured Deposits, and all related issuances and bulletins, have been rendered of no force and effect, and of no further application.

Thus, effective immediately, all banks are directed to discontinue the posting of RI 2011-04 within their respective bank premises. Accordingly, submission of the report on posting compliance of the subject RI, as certified by the bank’s Compliance Officer, shall no longer be required by PDIC.

For information and compliance.