Malaysia, PDIC work for closer cooperation to foster stability The Perbadanan Insurans Deposit Malaysia (PIDM) and the Philippine Deposit Insurance Corporation (PDIC) signed a memorandum of understanding for mutual cooperation on cross-border issues to enhance the effectiveness of deposit insurance system in their respective jurisdictions.   PIDM Chief Executive Officer Jean Pierre... read more

PDIC starts paying small depositors of Cooperative Rural Bank of Bulacan 3 weeks after closure   The Philippine Deposit Insurance Corporation (PDIC) announced that it has started mailing the payments for all valid deposit accounts with balances of P15,000 and below maintained with the closed Cooperative Rural Bank of Bulacan   (CRBB)  on June 14, 2013, three weeks after the bank’s... read more

FDIC, PDIC sign joint Communiqué for cross-border cooperation  The Federal Deposit Insurance Corporation  (FDIC) of the United States and the Philippine Deposit Insurance Corporation (PDIC) have signed a joint communiqué for cross-border cooperation recognizing that depositor protection is the key element for the maintenance of financial stability. The two Agencies agreed to exchange... read more

PDIC starts paying small depositors of Rural Bank of Naval  2 weeks after closure  The Philippine Deposit Insurance Corporation (PDIC) announced that it has started mailing the payments for all valid deposit accounts with balances of P15,000 and below maintained with the closed Rural Bank of Naval on June 14, 2013, two weeks after the bank’s closure on May 31, 2013. The payments... read more

BIR Collection for May 2013 Grew by PhP17.35 Billion For the month of May 2013, the BIR collected Php111.90 billion in tax revenues, Php17.35 Billion or 18.35% more than collections made in May 2012.    Or, PhP 3.22 Billion or 2.8% less than the goal set for May 2013 of PhP 115.12 Billion.   For May 2013, collections from BIR operations amounted to Php109.51 Billion, Php17.24... read more