PDIC to review deposit insurance cap every 3 years

The Philippine Deposit Insurance Corp. (PDIC) will review the maximum deposit insurance coverage (MDIC) every three years, with the next evaluation set for 2028, making adjustments possible if warranted by economic conditions.

- KEISHA TA-ASAN

In a press conference, PDIC general counsel Maria Antonette BrillantesBolivar said the regular review process ensures deposit insurance coverage remains adequate and responsive to financial shifts.

"The review that's required is every three years, and if an adjustment is warranted, then the adjustment will happen in the third year," she said.

"It's possible (for an adjustment every three years), especially now that the authority is delegated to the PDIC board.

But only if warranted as a result of the review," she added.

While PDIC will regularly monitor deposit insurance levels, Bolivar clarified that adjustments would not necessarily be automatic every three years.