PDIC conducts asset disposal either through public bidding or negotiated sale as part of its mandate as statutory liquidator of closed banks to liquidate and convert the assets of the closed bank for the benefit of the closed banks’ creditors. Proceeds from the sale of these closed bank-owned assets go directly to a fund that the PDIC manages. The fund and all its earned interest are then distributed to pay the depositors with uninsured deposits and settle the claims of closed banks` creditors.