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Questions and Answers
What is the purpose of the PDIC law?
What is the purpose of the PDIC law?
- To promote investment in the banking sector
- To insure the deposits of all banks and provide permanent deposit insurance coverage for the depositing public (correct)
- To provide financial assistance to struggling banks
- To regulate the operations of all banks in the country
What is the maximum deposit insurance coverage provided by PDIC per depositor per bank?
What is the maximum deposit insurance coverage provided by PDIC per depositor per bank?
- PhP250,000
- PhP750,000
- PhP1,000,000
- PhP500,000 (correct)
Apart from being a deposit insurer, what is another role of PDIC?
Apart from being a deposit insurer, what is another role of PDIC?
- Legal Counsel for Banks
- Co-Regulator of Banks (correct)
- Financial Auditor for Banks
- Investment Advisor for Banks
How does PDIC primarily build up the Deposit Insurance Fund (DIF)?
How does PDIC primarily build up the Deposit Insurance Fund (DIF)?
When was PDIC created?
When was PDIC created?
Flashcards
PDIC Purpose
PDIC Purpose
Insures bank deposits, guaranteeing customer funds.
Maximum Deposit Insurance
Maximum Deposit Insurance
PHP500,000 per depositor, per bank.
PDIC Role (aside from insurance)
PDIC Role (aside from insurance)
Co-regulator of banks.
Deposit Insurance Fund (DIF) source
Deposit Insurance Fund (DIF) source
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PDIC Creation Year
PDIC Creation Year
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Study Notes
Purpose of PDIC Law
- To provide depositor protection and maintain financial stability by providing deposit insurance coverage to depositors
Deposit Insurance Coverage
- Maximum deposit insurance coverage provided by PDIC per depositor per bank: up to ₱500,000
Roles of PDIC
- Besides being a deposit insurer, PDIC also acts as a receiver or liquidator of banks
Building the Deposit Insurance Fund (DIF)
- PDIC primarily builds up the DIF through premiums paid by participating banks
History of PDIC
- PDIC was created on June 22, 1963
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