Regulators ready P5-B incentive program to push bank mergers
BANKING regulators are coming up with P5 billion in incentives to
encourage rural banks to merge and thereby create stronger and more
viable institutions.
In a statement, the Philippine Deposit Insurance Corp. (PDIC) said it is
establishing a P5-billion fund together with the Bangko Sentral ng
Pilipinas (BSP), of which the state [...]
By Michelle Remo
Philippine Daily Inquirer
Posted date: August 15, 2009
THE INSURANCE FUND FOR THE COUNtry’s deposit insurer is not likely to
grow this year because of the string of closures of rural banks over the
past months that involve billions of peso worth of claims.
The deposit insurance fund (DIF)—which grew to P60.5 billion last year
from P53.4 billion in [...]
When I discovered the Philippines back in 2005 I was amazed at the resilience and pride of its people and the natural beauty of the landscape, it was intoxicating. I have visited it 12 times since meeting my fiance and we are expecting our first child, Brianna, by the end of the month. Starting last [...]
I love my country, I have defended it to death. I buy Filipino even when I am abroad. I buy local when I come home. I send money to my family, friends and people I do not even know. I help a lot to stir the economy especially when I go on vacation to the [...]
Mirror, Mirror on the wall,
Will PDIC pay at all?
If they do, when will that be?
Why do they prolong our agony?
Legacy is defined by Merriam-Webster as 1: a gift by will especially of money or other personal property, 2: something transmitted by or received from an ancestor or predecessor or from the past.
Let’s examine the “legacy” the PDIC is bestowing on bank depositors in the Philippines.
The group of Legacy banks closed in mid December 2008. [...]
A lot have been said by PDIC, that they will pay within 6 months of date of filing of claims not bank closure.. It is almost 6 months. It will be six months in September. I have not heard anything about my accounts. I filed it in March 23rd, 2009. No peep nor ni ha [...]