pdic_UsapangPera_GuideBook
pdic_UsapangPera_GuideBook pdic_UsapangPera_GuideBook
Introduction The banking system is the backbone of the national economic system. Public confidence and trust in the banking system are essential to financial stability. Financial stability is essential to savings and investments, which in turn are essential to economic growth and development. The Philippine institutions, with regulatory oversight on our banking and other financial institutions, have performed very well in carrying out their mandates and kept the banking and financial system stable through the most trying situations. These are the Bangko Sentral ng Pilipinas (BSP), the Department of Finance (DOF), the Securities and Exchange Commission (SEC), the Insurance Commission (IC), and the Philippine Deposit Insurance Corporation (PDIC). The PDIC is celebrating this year the 50 th anniversary of its founding on June 22, 1963. The PDIC Guidebook on Basic Banking and Financial Transactions (Usapang Pera: Mga Dapat Alamin), is a functional memento for PDIC’s 50 years of service in deposit insurance, depositor protection and its role in the maintenance of financial stability. It is an easy to read reference guide for everyone for understanding banking products and transactions. It is also a financial literacy tool for everyone. Its usefulness can cover the broad spectrum of Filipinos from the beneficiaries of overseas Filipino workers to busy non-financial executives, students and retirees. The author, Efren Cruz, has been a long-time and well-known advocate of financial literacy. As a further service, Mr. Cruz will continue to support an active link at the PDIC website covering interest rates, yields and other aspects of finance and banking. The depositor protection mandate of PDIC goes beyond the
insured deposits. This Guidebook is intended to help the depositor discern differences in risks and return on various banking products. It is our belief that a population that saves and invests wisely enables the national economy to have sustained and balanced growth in a stable financial environment. It is hoped that this Guidebook will make a difference for safe and more savings for the readers. VALENTIN A. ARANETA President Philippine Deposit Insurance Corporation
- Page 2 and 3: Copyright 2013 by the Philippine De
- Page 5: Foreword Through the Philippine Dep
- Page 9 and 10: Table of Contents A Brief History o
- Page 12 and 13: Just like in the United States of A
- Page 14: Table 1 1 Maximum Deposit Insurance
- Page 17 and 18: Money is Important 7
- Page 19 and 20: A Brief History of Money At the hou
- Page 21 and 22: Different Forms of Money Seeing his
- Page 23 and 24: Financial Expert’s Corner They sa
- Page 26 and 27: The Different Life-Event Stages Six
- Page 28 and 29: “In our case, we are saving up fo
- Page 30 and 31: The next life-event stage is where
- Page 32 and 33: How to Save Mang Domeng, as if to r
- Page 34 and 35: Financial Expert’s Corner Saving
- Page 36: Why and How to Save 1. There are ma
- Page 39 and 40: A few minutes later, Tessie is alre
- Page 41 and 42: • Suspicious transactions are tra
- Page 43 and 44: Financial Expert’s Corner In acco
- Page 45 and 46: Banks may or may not issue an ATM c
- Page 47 and 48: He says that all that bank tellers
- Page 49 and 50: Tessie expresses some concerns. “
- Page 51 and 52: Aling Lorna smiles and continues,
- Page 53 and 54: Located on the upper left hand corn
- Page 55 and 56: Financial Expert’s Corner To avoi
insured deposits. This Guidebook is intended to help the depositor<br />
discern differences in risks and return on various banking products.<br />
It is our belief that a population that saves and invests wisely enables<br />
the national economy to have sustained and balanced growth in a<br />
stable financial environment. It is hoped that this Guidebook will<br />
make a difference for safe and more savings for the readers.<br />
VALENTIN A. ARANETA<br />
President<br />
Philippine Deposit Insurance Corporation
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