PDIC reviews reclaiming P107.23 billion after SC ruling

The Philippine Deposit Insurance Corporation (PDIC) is reviewing whether it can reclaim P107.23 billion in funds remitted to the government, following a Supreme Court ruling.

This amount was transferred in January 2025 to the Bureau of the Treasury under a special provision of the 2024 General Appropriations Act (GAA) and a Department of Finance (DOF) circular.

The Supreme Court declared the special provision of the 2024 GAA and the DOF circular void, citing grave abuse of discretion, in a decision stemming from petitions regarding a P60 billion transfer from the Philippine Health Insurance Corporation (PhilHealth).

The PDIC's legal team is examining the possibility of getting the money back.

The funds were remitted as "unrestricted retained earnings" under the provision that allowed government-owned or controlled corporations to return excess reserve funds to finance unprogrammed appropriations.