PDIC Updates Bank Ad Rules After Coverage Hike

In response to the recent increase in the maximum deposit insurance coverage to PHP1 million per depositor, the Philippine Deposit Insurance Corp. has begun consultations with key industry stakeholders to update its rules on bank advertisements and use of the PDIC seal, insurance statements and signage.

The proposed revisions to the Regulatory Issuance aim to align advertising standards with the expanded insurance coverage, evolving market dynamics and the increasing use of digital platforms in financial marketing.

These updates are designed to keep the regulatory framework relevant, effective and responsive to both consumer protection and industry innovation.

PDIC is engaging with organizations such as the Ad Standards Council to ensure the revised rules support transparency while reflecting current advertising practices.

The ASC is a self-regulating, non-profit organization that screens advertisements across all media platforms to ensure they are honest, fair and responsible.

The consultative meetings create a collaborative platform for banks and industry groups to share feedback and recommendations.

This participatory process ensures the updated regulations are relevant, forward-looking and responsive to changing market needs.

It also strengthens trust and cooperation between PDIC and banking associations.

On March 17, 2025, PDIC concluded its first round of discussions with the Bank Marketing Association of the Philippines and the ASC.

The next phase will involve consultations with the Bankers Association of the Philippines, the Chamber of Thrift Banks, the Rural Bankers Association of the Philippines and the Digital Banks Association of the Philippines.

Their input on the Regulatory Issuance exposure draft will help create a balanced framework that promotes compliance without hindering marketing or innovation.

The strong partnership between PDIC and banking organizations is reflected in broad industry support for the PHP1 million coverage increase.

Bank leaders say the policy enhances public confidence in the financial system.

“It’s a timely move given that limits have not been increased in years,” said BAP President Jose Teodoro Limcaoco.

“This move reinforces trust in the banking system, especially for senior citizens and retirees who rely on deposit security,” said CTB President Mary Jane Perreras.

The RBAP also welcomed the increase, citing its wider economic benefit.

“This further strengthens public confidence in the banking system and comes at no extra cost to insured banks, thereby allowing them to attract more private investment in the form of savings,” the association said in a statement.