Bill Type
Congress Name
Long Title
AN ACT INCREASING THE AMOUNT OF INSURED BANK DEPOSITS FROM ONE HUNDRED THOUSAND PESOS (P100,000) TO ONE MILLION PESOS (P1,000,000), AMENDING FOR THE PURPOSE REPUBLIC ACT NUMBERED THREE THOUSAND FIVE HUNDRED NINETY-ONE, AS AMENDED, OTHERWISE KNOWN ASTHE CHARTER OF THE PHILIPPINE DEPOSIT INSURANCE CORPORATION
Date filed
July 24, 2001
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 1365, 12th Congress of the Republic | |
| FULL TITLE : AN ACT INCREASING THE AMOUNT OF INSURED BANK DEPOSITS FROM ONE HUNDRED THOUSAND PESOS (P100,000) TO ONE MILLION PESOS (P1,000,000), AMENDING FOR THE PURPOSE REPUBLIC ACT NUMBERED THREE THOUSAND FIVE HUNDRED NINETY-ONE, AS AMENDED, OTHERWISE KNOWN ASTHE CHARTER OF THE PHILIPPINE DEPOSIT INSURANCE CORPORATION | |
| ABSTRACT : This bill seeks to bring back the Filipinos' trust on the banking industry as it proposed to increase the maximum amount of insured deposits from the current P100,000.00 to P500,000.00 and establish a deposit insurance coverage plan for deposits inexcess of P500,000.00 which a depositor may have an option to enroll in at his/her cost. Accordingly, the bill increases the permanent insurance fund from the current amount of P3 billion to P8 billion. | |
| PRINCIPAL AUTHOR/S : PICHAY, PROSPERO JR. A. | |
| DATE FILED : 2001-07-24 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Badelles (013 ) | 2. Espina (019 ) |
| 3. Violago (030 ) | 4. Nicolas (031 ) |
| 5. Espino (052 ) | 6. Dumpit (062 ) |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE | |
| MOTHER BILL: House Bill No. 6003, 12th Congress of the Republic | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON BANKS AND FINANCIAL INTERMEDIARIES ON 2001-07-30 |
Abstract
"This bill seeks to bring back the Filipinos' trust on the banking industry as it proposed to increase the maximum amount of insured deposits from the current P100,000.00 to P500,000.00 and establish a deposit insurance coverage plan for deposits inexcess of P500,000.00 which a depositor may have an option to enroll in at his/her cost. Accordingly, the bill increases the permanent insurance fund from the current amount of P3 billion to P8 billion."
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.