CROSS-BORDER COOPERATION AND INFORMATION-SHARING. The Philippine Deposit Insurance Corporation (PDIC) and the Deposit Protection Agency of Thailand (DPA) signed an agreement on cross-border cooperation and information-sharing on November 20, 2014 at the PDIC Office in Makati City. PDIC President Cristina Q. Orbeta (4th from left) and DPA President Sorasit Soontornkes (5th from left) shake hands after the signing the memorandum of understanding (MOU) that aims to address and mitigate risks in the global financial system as well as to respond to the need for international cooperation among financial safety-net players. Also present in the signing ceremonies are (L-R), PDIC Executive Vice President Imelda S. Singzon, PDIC Director Rogelio W. Manalo, PDIC Director Protacio T. Tacandong, DPA SVP Narida Sreshthaputra, DPA VP Chiranuwat Tanyacharoen and DPA Assistant VP Kaankorn Jakkrichkul.
The Monetary Board (MB) placed the Rural Bank of San Fernando (Cebu), Inc. under the receivership of the Philippine Deposit Insurance Corporation (PDIC) by virtue of MB Resolution No. 1087 dated July 4, 2013. As Receiver, PDIC took over the bank on July 5, 2013.
Read MoreRight after super typhoon “Yolanda” left the country greatly devastated, the Insurance Commission, together with industry stakeholders, immediately approved and implemented the program, “Agarang Proseso, Benepisyo ay Sigurado” to address the victims’ urgent need of any relief available.
Read MoreThe Philippine Deposit Insurance Corporation (PDIC) will start servicing the deposit insurance claims of depositors of the closed Cooperative Rural Bank of Bulacan (CRBB) on July 9, 2013.
Read MoreThe Philippine Deposit Insurance Corporation (PDIC) recently signed a memorandum of agreement with the Land Bank of the Philippines (LBP) introducing two new payment schemes to service the payment of deposit insurance claims of depositors of closed banks.
Read MoreThe Philippine Deposit Insurance Corporation (PDIC) called on depositors of the closed Export and Industry Bank (EIB) who have not yet filed their deposit insurance claims to file their claims either by mail or personally. The PDIC disclosed that more than 10,000 account holders of EIB have not yet filed their claims.
Read MoreTHE DEPARTMENT order directing insurance companies to raise their capitalization to P1 billion has been issued by the Finance department.
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