PDIC 101 on Deposit Insurance Reaches Cebu City

Collaborating with local media to raise awareness on deposit insurance, the Philippine Deposit Insurance Corp. (PDIC) and the Philippine Information Agency (PIA) recently held the Visayas run of “PDIC 101: Understanding Deposit Insurance.”

The initiative aimed to equip media practitioners with a better understanding of the PDIC’s mandate, and the benefits and limitations of deposit insurance.

Photo shows members of the local media in Cebu City listening to a discussion led by PDIC Vice President Jose G. Villaret Jr. of the Corporate Affairs Group.

The PDIC 101 session in Cebu was held July 11, 2025, in partnership with the PIA Central Visayas Regional Office.

The PDIC, in collaboration with the PIA Central Visayas, conducted its second regional run for 2025 of “PDIC 101: Understanding Deposit Insurance.”

PDIC 101 is the state deposit insurer’s ongoing information drive to help local media gain a clearer grasp of the PDIC’s functions so they can share accurate information through various media platforms.

The Visayas leg was held at the Cebu Parklane International Hotel, following the Luzon run in Naga City in May 2025.

Designed to raise public awareness and depositor confidence in the Philippine financial system, the initiative highlights the critical role of deposit insurance in protecting savings.

The event also clarified PDIC’s multi-role mandate as state deposit insurer, co-regulator of banks, and statutory receiver of closed banks.

Since 2024, the PDIC and PIA have partnered to improve public access to financial information, especially on the advantages of banking and the protection provided by deposit insurance.

With PIA’s wide-reaching network, the collaboration enables PDIC to reach broader audiences and help Filipinos make informed financial decisions.

Villaret led the Cebu session with an interactive discussion involving media from TV, radio, print and online outlets.

He emphasized the PDIC’s core mandates and highlighted the increased maximum deposit insurance coverage of PHP1 million per depositor, per bank, which took effect March 15, 2025.

Following sessions in Metro Manila, Luzon and Visayas, PDIC 101 will also be held in Mindanao later this year.

As the national deposit insurer, the PDIC covers deposits up to PHP1 million per depositor, per bank.

It also manages the Deposit Insurance Fund, which serves as the payment source in the event of bank closures ordered by the Bangko Sentral ng Pilipinas (BSP).

As co-regulator, the PDIC works closely with the BSP and other financial regulators to promote system stability.

When a bank is shut down by the BSP, the PDIC assumes its role as receiver and oversees liquidation, asset disposal and loan collection to recover value and address the claims of creditors and uninsured depositors.

Through education and inter-agency collaboration, the PDIC remains vital in protecting depositors and ensuring public trust in the country’s financial system.

For more information, visit the PDIC website at www.pdic.gov.ph or its official Facebook page at www.facebook.com/OfficialPDIC.