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3. Granting high interest rates when the bank has: (i) negative unimpaired capital and (ii) either a liquid assets-to-deposits ratio of less than 10% or an operating loss. A bank is deemed offering high interest rates on deposits if the interest rate is over 50% of the prevailing comparable market median rate for similar bank categories. Liquid assets refer to the sum of Cash, Due from BSP/Banks and Financial Assets, net of allowance for credit losses. 4. Non-compliance with PDIC Regulatory Issuances. 5. Other deposit-related practices, activities, and transactions which the PDIC may identify through appropriate issuances. Attached for guidance is a list of specific activities which the PDIC may consider to be unsafe and/or unsound banking practices (Annex A). The PDIC may hereafter consider other acts or omissions as unsafe and/or unsound pursuant to the general principles and guidelines in this Regulatory Issuance. V. Consequences of Unsafe and/or Unsound Practices The commission of unsafe and/or unsound practices as defined in this Regulatory Issuance may have these consequences: 1. Deposit accounts and all information related thereto may be inquired into or examined by PDIC upon the finding of unsafe and/ or unsound banking practices, notwithstanding any provisions of law to the contrary. (Section 8, 8th par., PDIC Charter) 2. The PDIC Board of Directors may issue a cease and desist order, and require the bank or its directors or agents concerned to desist and/or correct the practices or violations. (Section 7, PDIC Charter) 126 Annexes
3. Deposit insurance on deposit accounts or transactions constituting, and/or emanating from, unsafe and/or unsound banking practice/s as determined by the PDIC Board shall not be paid, after due notice and hearing, and publication of a directive to cease and desist from engaging in the cited unsafe and/or unsound practice/s. (Section 4 (f), PDIC Charter) The foregoing shall be without prejudice to the criminal, civil, and administrative actions that may be instituted against, or fines imposed upon, the bank and its responsible directors, officers, employees, or agents, pursuant to the provisions of the PDIC Charter, PDIC Regulatory Issuances, and other pertinent laws. VI. Separability Clause Sections of this Regulatory Issuance shall be deemed severable, and should any section, subsection, paragraph, sentence, or phrase of this Issuance be declared by a court of competent jurisdiction to be invalid, unenforceable, or unconstitutional, such decision shall not affect the validity of the Issuance as a whole, or any part thereof, other than the part so declared to be invalid, unenforceable, or unconstitutional. VII. Effectivity This Regulatory Issuance shall take effect fifteen (15) days after publication in the Official Gazette or in any newspaper of general circulation. For strict compliance. JOSE C. NOGRALES President Annexes 127
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Copyright 2013 by the Philippine De
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Foreword Through the Philippine Dep
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insured deposits. This Guidebook is
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Table of Contents A Brief History o
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Just like in the United States of A
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Table 1 1 Maximum Deposit Insurance
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Money is Important 7
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A Brief History of Money At the hou
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Different Forms of Money Seeing his
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Financial Expert’s Corner They sa
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The Different Life-Event Stages Six
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“In our case, we are saving up fo
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The next life-event stage is where
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How to Save Mang Domeng, as if to r
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Financial Expert’s Corner Saving
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Why and How to Save 1. There are ma
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A few minutes later, Tessie is alre
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• Suspicious transactions are tra
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Financial Expert’s Corner In acco
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Banks may or may not issue an ATM c
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He says that all that bank tellers
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Tessie expresses some concerns. “
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Aling Lorna smiles and continues,
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Located on the upper left hand corn
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Financial Expert’s Corner To avoi
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Mang Domeng says to Aling Lorna,
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Financial Expert’s Corner It shou
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In closing the deposit account, you
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It’s 5:30 AM on a Wednesday, and
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The over-reliance on heuristics giv
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Financial Expert’s Corner Money a
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Financial Expert’s Corner It can
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Ponzi Schemes and Pyramiding Aling
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But before the couple leaves, Harry
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More Than Just Interest Rates 1. He
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PDIC is also authorized to investig
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Unable to suppress his smile, Orly
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depositors who have obligations wit
Page 85 and 86: The agent in a “By” deposit and
Page 87 and 88: Financial Expert’s Corner Effecti
Page 89 and 90: 3. How much is Fe Santos’s insure
Page 91 and 92: Member: PDIC 1. PDIC was created by
Page 94 and 95: It is just two weeks before Mang Do
Page 96 and 97: Figure 8 Investment Risk Profile* I
Page 98 and 99: cash or near cash account. Such acc
Page 100 and 101: Financial Expert’s Corner For lon
Page 102 and 103: Ed says, “In their simplest form,
Page 104 and 105: Stocks Mang Domeng notices a bewild
Page 106 and 107: “You see, Nanay, although they ar
Page 108 and 109: Financial Expert’s Corner The adv
Page 110 and 111: Other Places to Put Your Money 1. W
Page 112 and 113: It is just one more week before Man
Page 114 and 115: Loads have a validity of one year f
Page 116 and 117: 3. Know Your Bank’s Service Fees
Page 118 and 119: time deposit automatically renewed
Page 120 and 121: 6. Be Informed About PDIC Deposit I
Page 122 and 123: “Orly, I am an OFW,” Mang Domen
Page 124 and 125: Mang Domeng excitedly replies, “S
Page 126 and 127: The Power of Information 1. You, as
Page 128 and 129: Accrued interest - earned but still
Page 130 and 131: Ponzi Scam - an illegal financial s
Page 132 and 133: Determining If Your Expenses Are Ju
Page 134 and 135: Annex B Regulatory Issuance No. 201
Page 138 and 139: ANNEX A: Deposit-Related Activities
Page 140 and 141: BSP Circular No. 640 (Activities Wh
Page 142 and 143: Sample Claim Form (Page 1) Annex D
Page 144 and 145: Sample Claim Status Sheet Annex E 1
Page 146 and 147: Annex G Republic Act No. 9505 Augus
Page 148 and 149: (g) “PERA Investment Product” r
Page 150 and 151: Sec. 7. Separate Asset. -The PERA s
Page 152 and 153: (d) Disclosure requirements on the
Page 154 and 155: entitled hereto, shall be subject t
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