Philippine Deposit Insurance Corporation
Website description: PDIC is a government instrumentality created in 1963 by 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.
Philippine deposit insurer raises maximum coverage to ₱1m
Philippine deposit insurer raises maximum coverage to ₱1m
Previously, the MDIC amount was $8,630.44 (₱500,000).
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Philippine Deposit Insurance remits $2b to fund gov’t projects
The Deposit Insurance Fund is kept within the target level established by the board.
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