Financial Sector Assessment Program Update : Assessment of Philippines Deposit Insurance Corporation

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collection.link.72
https://openknowledge.worldbank.org/handle/10986/2180
collection.name.72
Financial Sector Assessment Program
dc.contributor.author
International Monetary Fund
dc.contributor.author
World Bank
dc.date.accessioned
2013-10-03T16:36:40Z
dc.date.available
2013-10-03T16:36:40Z
dc.date.issued
2011-02
dc.date.lastModified
2021-04-23T14:03:23Z
dc.description.abstract
The global economic and financial sector crisis of 2008-09 became a stark reminder to countries around the world of the need for an effective process for maintaining the confidence of depositors and resolving troubled financial institutions with the least amount of adverse impact on the financial sector and the community served by the institutions. The role of deposit insurance was highlighted during this difficult time. Nations without a formal system found the need to reassure their citizens by announcing formal government guaranties. Nations with established systems were not immune from the public's concern and as a result many increased the allowable coverage. The Philippines, although somewhat immune from the global crisis, none the less felt the impact of the crisis and responded, as did other countries, by taking steps to address the possible impact of the crisis by bolstering depositor confidence. The Philippines stands out among its Asian neighbors at being in the forefront of deposit insurance. Long before deposit insurance became popular at the peak of the Asian financial crisis of the late 1990's, the Philippines already had an established formal deposit insurance system. The Philippine Deposit Insurance Corporation (PDIC) is a government instrumentality. It was established in June 1963 with the passage of Republic Act (RA) 3591. The role of PDIC at that time was to help build the banking sector by encouraging citizens to save and to deposit those savings in the formal banking system. It was to do this by assuring depositors of the safety of their deposits by providing a government sponsored insurance of up to a P 10,000 per depositor in the event of a bank failure. The underlying motivation was to promote a safe and sound banking system and to foster public confidence in it.
en
dc.identifier
http://documents.worldbank.org/curated/en/2011/02/18019633/assessment-philippines-deposit-insurance-corporation
dc.identifier.uri
http://hdl.handle.net/10986/16057
dc.language
English
dc.language.iso
en_US
dc.publisher
World Bank, Washington, DC
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo/
dc.subject
ACCESS TO DEPOSIT
dc.subject
ACCOUNTING
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ACCURATE INFORMATION
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ADMINISTRATIVE PROCEDURES
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ALL LIABILITIES
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AMOUNT DUE
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ASPECTS OF DEPOSIT INSURANCE
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ASSET DETERIORATION
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ASSET RECOVERIES
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ASSOCIATION OF DEPOSIT INSURERS
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AUDIT COMMITTEE
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AUDITORS
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AUDITS
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BANK CLOSURE
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BANK CUSTOMERS
dc.subject
BANK FAILURE
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BANK FOR INTERNATIONAL SETTLEMENTS
dc.subject
BANK LIQUIDATIONS
dc.subject
BANK OWNERS
dc.subject
BANK SECRECY
dc.subject
BANK SUPERVISORS
dc.subject
BANKING ASSETS
dc.subject
BANKING LAWS
dc.subject
BANKING PRACTICE
dc.subject
BANKING PRACTICES
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BANKING SECTOR
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BANKING SERVICES
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BANKING SUPERVISION
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BLANKET GUARANTEE
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BLANKET GUARANTEES
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BOND
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BRANCH NETWORK
dc.subject
BUSINESS BORROWER
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CAPITAL MARKETS
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CENTRAL BANK
dc.subject
CLAIM
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CLAIM FORMS
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CLOSED BANKS
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CODE OF CONDUCT
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CODE OF ETHICS
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COMMERCIAL BANKS
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CONFLICTS OF INTEREST
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COOPERATIVE BANKS
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CORPORATE GOVERNANCE
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COST OF DEPOSIT INSURANCE
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COVERAGE AMOUNT
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COVERAGE AMOUNTS
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COVERAGE LIMIT
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COVERAGE LIMITS
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CREDIBILITY
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CREDITORS
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CREDITS
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CRIMINAL ACTS
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DEFALCATION
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DEFAULTS
dc.subject
DEPOSIT
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DEPOSIT ACCOUNT
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DEPOSIT ACCOUNTS
dc.subject
DEPOSIT COVERAGE
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DEPOSIT INSURANCE
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DEPOSIT INSURANCE AGENCIES
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DEPOSIT INSURANCE CLAIMS
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DEPOSIT INSURANCE CORPORATION
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DEPOSIT INSURANCE COVERAGE
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DEPOSIT INSURANCE COVERAGE LIMIT
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DEPOSIT INSURANCE FUND
dc.subject
DEPOSIT INSURANCE PROGRAM
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DEPOSIT INSURANCE REGIME
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DEPOSIT INSURANCE SYSTEM DESIGN
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DEPOSIT INSURANCE SYSTEMS
dc.subject
DEPOSIT INSURER
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DEPOSIT TAKING INSTITUTION
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DEPOSIT TAKING INSTITUTIONS
dc.subject
DEPOSITOR
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DEPOSITOR CONFIDENCE
dc.subject
DEPOSITORS
dc.subject
DEPOSITORY
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DEPOSITS
dc.subject
DEPOSITS OF BANKS
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DERIVATIVE
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DERIVATIVE TRANSACTIONS
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DEVELOPMENT BANKS
dc.subject
DISCLOSURE OF INFORMATION
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EFFECTIVE DEPOSIT INSURANCE
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EFFECTIVENESS OF DEPOSIT INSURANCE
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ESTATE
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EXTENT OF COVERAGE
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FAILING BANK
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FAILURE RESOLUTION
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FEDERAL DEPOSIT INSURANCE
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FEDERAL DEPOSIT INSURANCE CORPORATION
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FINANCIAL CONDITION
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FINANCIAL CRISIS
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FINANCIAL DIFFICULTIES
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FINANCIAL DIFFICULTY
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FINANCIAL INSTITUTION
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FINANCIAL INSTITUTIONS
dc.subject
FINANCIAL STABILITY
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FINANCIAL SYSTEM
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FORBEARANCE
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FOREIGN BANKS
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FOREIGN BRANCHES
dc.subject
FORMAL BANKING SYSTEM
dc.subject
FORMAL DEPOSIT INSURANCE
dc.subject
FORMAL DEPOSIT INSURANCE SYSTEM
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FRAUD
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GENERAL OBSERVATIONS
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GOOD FAITH
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GOVERNANCE STRUCTURE
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GOVERNMENT DEPOSITS
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INDIVIDUAL DEPOSIT
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INDIVIDUAL DEPOSITORS
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INFLATION
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INFORMATION DISSEMINATION
dc.subject
INSOLVENT
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INSTITUTIONS FOR DEPOSIT
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INSURABLE DEPOSIT
dc.subject
INSURANCE FUND
dc.subject
INSURED BANK
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INSURED BANKS
dc.subject
INSURED COVERAGE
dc.subject
INSURED DEPOSIT
dc.subject
INSURED DEPOSITORS
dc.subject
INSURED DEPOSITORY INSTITUTION
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INSURED DEPOSITORY INSTITUTIONS
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INSURED DEPOSITS
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INTERNATIONAL BANK
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INTERNATIONAL SETTLEMENTS
dc.subject
INTERPRETATION OF LAWS
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INVENTORY
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INVENTORY OF ASSETS
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INVESTMENT POLICY
dc.subject
JUDGES
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JUDICIAL PROCESS
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JUDICIARY
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JURISDICTIONS
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LEGAL ACTIONS
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LEGAL FRAMEWORK
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LEGAL PROTECTION
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LEGISLATION
dc.subject
LENDER
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LEVEL OF COVERAGE
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LIABILITY
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LIMITED COVERAGE
dc.subject
LIMITED COVERAGE SYSTEM
dc.subject
LINES OF CREDIT
dc.subject
LIQUIDATION
dc.subject
LIQUIDATION OF ASSETS
dc.subject
LIQUIDITY
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LOAN
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LOAN ASSOCIATIONS
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LOAN PAYMENTS
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LOCAL GOVERNMENT
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MANDATE
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MANDATES
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MANDATORY DEPOSIT INSURANCE
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MANDATORY PARTICIPATION
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MONETARY FUND
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MORAL HAZARD
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MORAL HAZARD RISK
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MORTGAGE
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MORTGAGE BANKS
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NUMBER OF BANKS
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OBJECTIVES FOR DEPOSIT INSURANCE
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OBLIGATIONS TO DEPOSITORS
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OPEN BANK
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OPEN BANKS
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PENALTIES
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PRIVATE BANKS
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PROMPT CORRECTIVE ACTION
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PROMPT CORRECTIVE ACTIONS
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PROMPT PAYMENT
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PRUDENTIAL REGULATIONS
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PUBLIC CONFIDENCE
dc.subject
PUBLIC FUNDS
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PUBLIC POLICY
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RECEIVER
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RECEIVERSHIP
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RECORD KEEPING
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REGULATORY SYSTEM
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REHABILITATION PLAN
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REHABILITATION PLANS
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RESERVE REQUIREMENTS
dc.subject
RIGHT OF SUBROGATION
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RISK MANAGEMENT
dc.subject
RISK TAKING
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ROLE OF DEPOSIT INSURANCE
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RURAL BANKS
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SAFETY NET
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SALARIES
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SALARY
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SAVINGS
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SAVINGS BANKS
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SETTLEMENT
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SMALL BUSINESS
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SMALL BUSINESSES
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SMALL DEPOSITORS
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SOVEREIGN GUARANTEE
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SPECIAL ASSESSMENTS
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SUBROGATION
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SUPERVISORY POWERS
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TRANSFER OF DEPOSITS
dc.subject
UNINSURED DEPOSITOR
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UNSOUND BANKING
dc.subject
VOLUME OF DEPOSITS
dc.title
Financial Sector Assessment Program Update : Assessment of Philippines Deposit Insurance Corporation
en
okr.date.disclosure
2013-07-18
okr.doctype
Economic & Sector Work :: Financial Sector Assessment Program (FSAP)
okr.doctype
Economic & Sector Work
okr.docurl
http://documents.worldbank.org/curated/en/2011/02/18019633/assessment-philippines-deposit-insurance-corporation
okr.globalpractice
Finance and Markets
okr.googlescholar.linkpresent
yes
okr.identifier.externaldocumentum
000333037_20130718144224
okr.identifier.internaldocumentum
18019633
okr.identifier.report
79234
okr.language.supported
en
okr.pdfurl
http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2013/07/18/000333037_20130718144224/Rendered/PDF/792340WP0Phili0Box0377370B00Public0.pdf
en
okr.region.administrative
East Asia and Pacific
okr.region.country
Philippines
okr.sector
Finance :: General finance sector
okr.theme
Rule of law :: Legal institutions for a market economy
okr.theme
Financial and private sector development :: Regulation and competition policy
okr.theme
Financial and private sector development :: Standards and financial reporting
okr.theme
Financial and private sector development :: Other financial and private sector development
okr.theme
Trade and integration :: International financial architecture
okr.topic
Finance and Financial Sector Development :: Deposit Insurance
okr.topic
Banks and Banking Reform
okr.topic
Finance and Financial Sector Development :: Debt Markets
okr.topic
Finance and Financial Sector Development :: Access to Finance
okr.topic
Finance and Financial Sector Development :: Bankruptcy and Resolution of Financial Distress
okr.unit
Financial Sector Assessment Prog (FFSFP)
okr.volume
1 of 1

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