Bill Type
Congress Name
Long Title
AN ACT INCREASING THE MAXIMUM DEPOSIT INSURANCE COVERAGE OF ANY DEPOSITOR AND ENCOURAGING INSURED BANKS TO FURTHER INCREASE THE SAME, AMENDING FOR THE PURPOSE REPUBLIC ACT NO. 3591, AS AMENDED, OTHERWISE KNOWN AS THE CHARTER OF THE PHILIPPINE INSURANCE DEPOSIT CORPORATION
Date filed
August 14, 2002
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 5119, 12th Congress of the Republic | |
| FULL TITLE : AN ACT INCREASING THE MAXIMUM DEPOSIT INSURANCE COVERAGE OF ANY DEPOSITOR AND ENCOURAGING INSURED BANKS TO FURTHER INCREASE THE SAME, AMENDING FOR THE PURPOSE REPUBLIC ACT NO. 3591, AS AMENDED, OTHERWISE KNOWN AS THE CHARTER OF THE PHILIPPINE INSURANCE DEPOSIT CORPORATION | |
| ABSTRACT : This bill seeks to increase the maximum amount of the insured deposit of any depositor from One Hundred Thousand Pesos (P100,000.00) to Two Hundred Thousand Pesos (P200,000.00). This amount could be further increased by any bank to entice prospective bank depositors and at the same time open widow of opportunities to bank clients to choose the banks with the best offer thus paving the way for competitiveness in the banking industry. | |
| PRINCIPAL AUTHOR/S : ALFELOR, FELIX JR. R. | |
| DATE FILED : 2002-08-14 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Dadivas (017 ) | 2. Monfort (019 ) |
| 3. Del Mar (026 ) | |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON BANKS AND FINANCIAL INTERMEDIARIES ON 2002-08-21 |
Abstract
This bill seeks to increase the maximum amount of the insured deposit of any depositor from One Hundred Thousand Pesos (P100,000.00) to Two Hundred Thousand Pesos (P200,000.00). This amount could be further increased by any bank to entice prospective bank depositors and at the same time open widow of opportunities to bank clients to choose the banks with the best offer thus paving the way for competitiveness in the banking industry.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.