Philippine Deposit Insurance Corporation information
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Philippine Deposit Insurance Corporation
Industry
Finance
Founded
June 22, 1963; 60 years ago (1963-06-22)
Headquarters
Makati, Metro Manila
,
Philippines
Area served
Philippines
Key people
Eli M. Remolona, Jr. (Chairman) Roberto B. Tan (President and Chief Executive Officer)
Services
Deposit insurance funds
Bank examination and resolution
Receivership and liquidation of closed banks
Website
www.pdic.gov.ph
The Philippine Deposit Insurance Corporation (Filipino: Korporasyon ng Pilipinas sa Seguro ng Deposito,[1] abbreviated as PDIC) is a Philippine government-run deposit insurance fund. It was established on June 22, 1963, by Republic Act 3591. It guarantees deposits up to ₱500,000.[2] The primary function of PDIC is to protect small investors/depositors and build strong confidence in banking.[3] PDIC receives guidance from the International Association of Deposit Insurers.[4]
^"Mga Pangalan ng Tanggapan ng Pamahalaan sa Filipino" (PDF). Komisyon sa Wikang Filipino (in Filipino). 2013. Archived (PDF) from the original on March 29, 2017. Retrieved March 27, 2018.
^Romero, Paolo (April 30, 2009). "GMA signs law raising deposit insurance to P.5 million". Philstar.com. Manila. Retrieved July 14, 2022.
^"Financial Sector Assessment Program Update: Assessment of Philippines Deposit Insurance Corporation". International Bank for Reconstruction and Development/The World Bank. World Bank Group: 1–2. February 2011.
^"Bank Deposits - Your Partner in Progress". Sunstar Cebu. June 16, 2022. Retrieved August 30, 2022.
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