(MANILA BULLETIN FILE PHOTO)
The House panel chaired by Quirino Rep. Junie Cua started its initial deliberation of House Bill 5812 which will raise the maximum deposit insurance coverage to P1 million.
In its committee deliberation on Friday, the House panel also discussed the passage of House Bill 8445 that provides for amendments in the legal and operational framework of the Philippine Deposit Insurance Corporation.
“The proposed amendments would prevent an overlap in the functions of the PDIC with the primary regulator of banks, the Bangko Sentral ng Pilipinas (BSP),” Cua said.
Authored by Makati City Rep. Luis Campos Jr., HB 5812 will increase the maximum bank deposit insurance to P1 million per depositor.
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