Practice question
A bank was ordered closed on March 14 2025. A qualified depositor files a claim in 2026 and argues that filing after the increase guarantees P 1 million coverage. Which PDIC rule governs the limit?
- The filing year always determines the cap.
- The depositor may choose any historical limit.
- Every pre 2025 closure is entirely uninsured.
- The increase applies prospectively to banks ordered closed from March 15 2025; the earlier closure remains under the prior applicable P 500,000 limit.
- All limits double automatically every year.
Legal references
- PDIC Charter as amended by RA11840, Sections5 and12–16: https://lawphil.net/statutes/repacts/ra2022/ra_11840_2022.html
- PDIC official Q&A on new MDIC, effective March15 2025: https://www.pdic.gov.ph/files/ccd/Q%26A%20on%20the%20New%20MDIC.pdf
- PDIC official insured-deposit guidance, June13 2025: https://chs.pdic.gov.ph/hc/en-us/articles/47915865936153-Estimated-Insured-Deposit
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