Bill Type
Congress Name
Long Title
AN ACT INCREASING THE INSURANCE COVERAGE OF BANK DEPOSITS OF DEPOSITORS FROM ONE HUNDRED THOUSAND PESOS (P100,000.00) TO TWO HUNDRED THOUSAND PESOS (P200,000.00) OR ONE HALF (1/2) OF THE DEPOSIT, WHICHEVER IS HIGHER, AMENDING FOR THE PURPOSE REPUBLIC ACT NUMBERED THIRTY-FIVE HUNDRED AND NINETY-ONE, AS AMENDED, ENTITLED "AN ACT ESTABLISHING THE PHILIPPINE DEPOSIT INSURANCE CORPORATION, DEFINING ITS POWERS AND DUTIES, AND FOR OTHER PURPOSES"
Date filed
July 27, 1999
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. HB07983 | |
| FULL TITLE : AN ACT INCREASING THE INSURANCE COVERAGE OF BANK DEPOSITS OF DEPOSITORS FROM ONE HUNDRED THOUSAND PESOS (P100,000.00) TO TWO HUNDRED THOUSAND PESOS (P200,000.00) OR ONE HALF (1/2) OF THE DEPOSIT, WHICHEVER IS HIGHER, AMENDING FOR THE PURPOSE REPUBLIC ACT NUMBERED THIRTY-FIVE HUNDRED AND NINETY-ONE, AS AMENDED, ENTITLED "AN ACT ESTABLISHING THE PHILIPPINE DEPOSIT INSURANCE CORPORATION, DEFINING ITS POWERS AND DUTIES, AND FOR OTHER PURPOSES" | |
| ABSTRACT : It is the declared policy of the State to encourage the accumulation of savings and deposits in banks in recognition of the immense contribution of these funds to the socio-economic development of the country. In order to encourage the accumulationof more deposits, the deposit insurance scheme has been adopted to generate public faith and confidence in the banking system. | |
| PRINCIPAL AUTHOR/S : HIZON, JOEY D. | |
| DATE FILED : 1999-07-27 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS : | |
| 1. | 2. |
| 3. | 4. |
| 5. | 6. |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE | |
| MOTHER BILL: HB12384 | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON BANKS AND FINANCIAL INTERMEDIARIES ON 1999-08-04 |
Abstract
It is the declared policy of the State to encourage the accumulation of savings and deposits in banks in recognition of the immense contribution of these funds to the socio-economic development of the country. In order to encourage the accumulationof more deposits, the deposit insurance scheme has been adopted to generate public faith and confidence in the banking system.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.