Bill Type
Congress Name
Long Title
AN ACT INCREASING THE INSURANCE COVERAGE OF BANK DEPOSITS OF DEPOSITORS FROM ONE HUNDRED THOUSAND PESOS (P100,000.00) TO TWO HUNDRED THOUSAND PESOS (P200,000.00) OR ONE-HALF (1/2) OF THE DEPOSIT, WHICHEVER IS HIGHER, AMENDING FOR THE PURPOSE REPUBLIC ACT NUMBERED THIRTY-FIVE HUNDRED AND NINETY-ONE, AS AMENDED, ENTITLED `AN ACT ESTABLISHING THE PHILIPPINE DEPOSIT INSURANCE CORPORATION, DEFINING ITS POWERS AND DUTIES AND FOR OTHER PURPOSES'
Date filed
November 13, 2001
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 3851, 12th Congress of the Republic | |
| FULL TITLE : AN ACT INCREASING THE INSURANCE COVERAGE OF BANK DEPOSITS OF DEPOSITORS FROM ONE HUNDRED THOUSAND PESOS (P100,000.00) TO TWO HUNDRED THOUSAND PESOS (P200,000.00) OR ONE-HALF (1/2) OF THE DEPOSIT, WHICHEVER IS HIGHER, AMENDING FOR THE PURPOSE REPUBLIC ACT NUMBERED THIRTY-FIVE HUNDRED AND NINETY-ONE, AS AMENDED, ENTITLED `AN ACT ESTABLISHING THE PHILIPPINE DEPOSIT INSURANCE CORPORATION, DEFINING ITS POWERS AND DUTIES AND FOR OTHER PURPOSES' | |
| ABSTRACT : For the past several years, inflation and peso devaluation have rendered the insurance amount unrealistic and enresponsive to present day depositors and the low insurance limit of P100,000.00 has discourage depositors from making bank deposits beyond said amount since any excess is no longer covered by insurance. | |
| PRINCIPAL AUTHOR/S : HIZON, JOEY D. | |
| DATE FILED : 2001-11-13 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Espino (035 ) | 2. Syjuco (055 ) |
| 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 2001-11-21 | |
| SECONDARILY REFERRED TO THE COMMITTEE(S) ON APPROPRIATIONS |
Abstract
For the past several years, inflation and peso devaluation have rendered the insurance amount unrealistic and enresponsive to present day depositors and the low insurance limit of P100,000.00 has discourage depositors from making bank deposits beyond said amount since any excess is no longer covered by insurance.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.