SB 397
Senate·20th Congress·Filed Jul 10, 2025
Amending R.A. No. 6426 (Foreign Currency Deposit Act of the Philippines)
An Act Further Strengthening the Foreign Currency Deposit Law, Amending for the Purpose Republic Act No. 6426 Otherwise Known as the 'foreign Currency Deposit Act of the Philippines,' as Amended
In plain language
The bill would remove bank‑secrecy protection for government officials and also make foreign‑currency deposits immune from seizure, while stating that deposits may not be examined by any authority.
Government AdministrationTaxationJustice and Judiciary
Automated summary by BatasWatch. It may miss nuance — read the bill text before citing it.
Author · Senator
Subjects
Foreign Currency Deposits
Official sources
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SBN-397 · Sources: BetterGov Open Congress, BatasWatch