An Act Amending Republic Act Numbered Three Thousand Five Hundred Ninety-One , as Amended, and Other Related Laws, to Enhance the Liquidation Framework for Banks and Banking Insitutions, and to Strenghten the Independence, Authority and Financial Capability of the Philippine Deposit Insurance Corporation, and for Other Purposes
The bill would broaden the Philippine Deposit Insurance Corporation’s role, letting it insure deposits held by banks, cooperatives and other financial firms, set coverage limits that can rise with inflation, and temporarily guarantee full coverage during a financial crisis. It also creates a new subsidiary to handle assets of failed banks and gives PDIC powers to assess fees based on each institution’s risk. The changes aim to protect depositors, speed up payouts when banks close, and strengthen the overall banking
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Printed from CivicSync PH: https://civicsync-ph-gamma.vercel.app/bills/SBN-1667. Status changes over time; check the link for the latest.
SBN-1667 · Sources: BatasWatch
Status via BatasWatch (independent source)
Similar in what they’d do, filed by any lawmaker.