The Corporation of Insurance Deposits of the Philippines (PDIC) (Filipino: Philippine Deposit Insurance Corporation) is a corporation owned by the government established in June under Republic Act NosIt also has free financial financial that connects to the Department of Finance of the Philippines. was amended by Republic Act Nos. and extended it the power of the PDIC when it comes to management and regulatory to include the independent examination of banks.
Also made by law the PDIC as forced tagapagtanggap - tagapaglikida of banks closed by the Monetary Board.
Moreover, the power to provide financial assistance to banks threatened to shut up is expanded to include the presumption of liability in addition to making the deposit, the resale of pangangari or the making of direct loans. Enlarged also of Republic Act Nos the covered by insurance in deposits from P, to P, each that. The PDIC is pinamunan of the five members of the Board of Managers consisting of the Secretary of the Treasury as Manila ex-officio, the President and Chief Official in the Executive as Vice-Chair, Curator of the Central Bank as member ex-officio, and two representatives from the private sector.
The President of the Philippines appoints the President of the PDIC and two private sector representatives on tenure of six years.
The role of the PDIC to isinasapananaw of Measurement is to motivate the savings banks and enter non-moving funds in the banking system, safeguard the insured deposits in the event of the closure of banks, helps in the lifting of the sound and stable banking system, and take care of the trust of the public in the banking system. Naglilikom of PDIC the half-yearly appraisal from the bank-members (the increased amount is one - one of the total deposits) and it may stop also in the restoration to former condition of the insured status of the banks under certain conditions. Facilitating the PDIC the prevention or examination of banks, it may issue the command paghumpay and prevention against the banks following non-safe and non-resonant behaviour of the banking, perform task failure to accord with pakikpagtulungan of the Central Bank and provide financial assistance to naluluging banks. The largest covered by the insurance of the deposit is P, each that that whole insured of almost twenty-five trillion that the presence of deposits, representing for of the total effect of deposits in the banking system of the Philippines. The PDIC is controls, manages and administers the relationship of the closed banks, and decides in case the bank and may be returned to useful and resume duties with safety in appropriating it, the creditor and the general public or the pangangaring it is get paid. Before the paglilikida of pangangari of a closed bank, nagdedemanda of the PDIC of a petition concerning help paglilikida in the relevant court. Replacing the PDIC the pangangari of closed banks in the cash and makes a distribution of certain cash and other pangangari to the creditor of the closed bank under the terms in the conjunction of circumstances and preference of credits specified by the Code Civil of the Philippines. Followed diligently by the PDIC significant amendments to the Charter to strengthen the ability regarding the operation and prescribed so that will help carry out the decree. It includes, among others, is the suggested raising of the MDIC from P, to P, each that and the return to the former form of the power of review of the PDIC. It is feasible in closed cooperation with the Central Bank to perpetrate the"it nakalingang deposits in through effective supervision and pagmamatyagan of banks. If so, it shall produce the power of the Central Bank and helps the Central Bank in the early detection of problems of naluging banks to avoid the more pagkakalubha and finally, closure.
