Philippine Deposit Insurance Corporation

Also known as PDIC

The Philippine Deposit Insurance Corporation (PDIC) is a government agency that insures bank deposits and manages programs like CLIP 3.0 to assist borrowers from closed banks, offering discounts and waivers on debts up to ₱10 million by December 2025. PDIC also collaborates with international partners such as the Korea Deposit Insurance Corporation (KDIC) and consults stakeholders to update guidelines for bank advertisements and deposit insurance coverage.

This is an AI-generated summary based on recent coverage.
Last updated at April 21, 2025.

Recent stories about PDIC

PDIC expands CLIP 3.0 to help borrowers with up to ₱10M in debt

The Philippine Deposit Insurance Corp. (PDIC) has updated and expanded its Closed Bank Loan Incentive Program (CLIP) in 2025 to assist more borrowers from closed banks manage their debts.
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PDIC, KDIC renew 5-year MOU on deposit insurance

The Philippine Deposit Insurance Corporation (PDIC) has renewed a five-year agreement with its Korean counterpart, the Korea Deposit Insurance Corporation (KDIC), to continue bilateral cooperation on deposit insurance.
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PhilHealth transfers P89B to natl treasury, sparks const. debate

The transfer of funds from PhilHealth to the national treasury has sparked debates over its constitutionality and the government's handling of unprogrammed appropriations.
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PDIC doubles max deposit insurance to P1M effective March 15

The Philippine Deposit Insurance Corporation (PDIC) announced on Friday that it will double the maximum deposit insurance coverage from P500,000 to P1 million per depositor per bank, effective March 15.
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PHP4.419T gov't revenue in 2024, beats target

The government's total revenue collections for 2024 reached PHP4.419 trillion, surpassing the target of PHP4.270 trillion and marking the highest revenue effort since 1997.
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PDIC pays P281.5M in deposit insurance to 7,482 accounts

The Philippine Deposit Insurance Corporation (PDIC) paid out a total of P281.5 million in deposit insurance to the insured depositors of three banks ordered closed by the Bangko Sentral ng Pilipinas (BSP) last year.
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DOF: PHP107B PDIC remittance won't affect reserves; DIF remains robust at PHP250B

The Department of Finance (DOF) stated that the PHP107-billion remitted by the Philippine Deposit Insurance Corporation (PDIC) to the national government are unrestricted funds available for other purposes without affecting PDIC's reserve funds.
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PDIC considers raising insurance coverage from P500K to P800K

PDIC President Roberto B. Tan announced that the agency is considering raising the maximum insurance coverage from P500,000 to adjust for inflation and help banks attract more funds.
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PDIC deposits PHP107.23B into Treasury, supports economic growth

The Philippine Deposit Insurance Corporation (PDIC) has deposited PHP107.23 billion into the Bureau of Treasury, assuring that its deposit insurance fund remains adequate.
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Recto: Remitting PHP200B idle GOCC funds to boost economy

Finance Secretary Ralph Recto said on Tuesday that utilizing idle funds from two government-owned corporations (GOCCs) could boost economic growth by creating more jobs.
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