Practice question
D has P 800,000 in each of two legally distinct PDIC-insured banks. Both close in 2026. The deposits are legitimate individual holdings with no relevant adjustment. What is the coverage result?
- Only one P 800,000 payment can ever be considered across the banking system.
- Each bank is assessed separately, so each P 800,000 holding is within its bank-specific P 1 million limit.
- All deposits across all banks always share one P 1 million cap.
- Only the first bank named alphabetically is insured.
- No deposit is covered if another bank account exists.
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
Answer this question in flashcards to review your response and continue practicing.