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ANNEX A: Deposit-Related Activities Which May Be Considered Unsafe and/or Unsound Banking Practices The activities enumerated herein are considered only as guidelines and are not conclusively presumed to be unsafe and/or unsound. Similarly, not all practices, which may be considered as unsafe and/or unsound, are mentioned in the list. In all cases, the PDIC shall give due consideration to the circumstances of each case vis-à-vis the general principles and guidelines set forth in the Regulatory Issuance. 1. Solicitation and acceptance of deposits outside bank premises, including branches, without BSP authority as required under “Servicing Deposits Outside Bank Premises” in the Manual of Regulations for Banks (MORB). 2. Solicitation and acceptance of deposits outside bank premises, including branches, as authorized by the BSP but without complying with the minimum safeguards set forth under “Servicing Deposits Outside Bank Premises” or “Electronic Banking Services and Operations” of the MORB. 3. Non-compliance with the minimum identification and documentation requirements for depositors for opening of deposit accounts as set forth under Rule 9.1.c and 9.1.d of the Revised Implementing Rules and Regulations of R.A. 9160, as amended by R.A. 9194. 4. Failure to keep bank records (printed and/or electronic) within the bank premises especially deposit documents such as, but not limited to, signature cards, depositor information files, and deposit ledger. 5. Recording deposits or withdrawals without legitimate supporting documents. 6. Offering and accepting high cost deposits despite the Cease and Desist Order issued by the Monetary Board. 128 Annexes
7. 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. 8. Allowing depositors to deposit directly into the bank’s deposit account/s with other banks without implementing controls. 9. Allowing unauthorized bank personnel and non-bank personnel to handle deposit transactions. 10. Failure to reconcile inter-branch deposit transactions or deposit float items within 7 banking days. 11. Allowing depositors to deposit, withdraw, and/or transfer funds without proper documentation such as a duly accomplished deposit or withdrawal slip or debit/credit memo, or its equivalent. 12. Making, use or issuance of bank advertisements, marketing proposals or strategies, and other similar statements or issuances, which directly or indirectly offer, promise, represent, or promote: (a) a separate and distinct PDIC deposit insurance cover for deposit accounts maintained in the same right and capacity of a depositor, either in his own name or in the name of others who have no beneficial ownership over the account/s; or (b) deposit insurance coverage that is inconsistent with and otherwise violative of the laws, rules and regulations and/or policies on beneficial ownership and deposit splitting. 13. Failure to adopt a Board-approved Operations Manual (OM) on Deposit Record Keeping and/or submission of an inadequate OM that does not reflect deposit practices. 14. Allowing bank employees to process their own deposit transactions including those of their relatives up to fourth degree of consanguinity or affinity. Annexes 129
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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
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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 136 and 137: 3. Granting high interest rates whe
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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