The Philippine Deposit Insurance Corporation (PDIC), in collaboration with the Philippine Information Agency (PIA) Central Visayas Regional Office, conducted the second regional run for 2025 of “PDIC 101: Understanding Deposit Insurance”. PDIC 101 is the state deposit insurer’s sustaining activity for local media to equip them with better understanding of the PDIC’s mandates to enable them to help spread this awareness through various media platforms.
The Visayas run of the PDIC 101 was held in Cebu Parklane International Hotel in Cebu City. The Cebu run followed the Luzon leg of the PDIC 101, which was conducted in Naga City in May 2025.
Aimed at enhancing public awareness on deposit insurance and raising depositor confidence in the country’s financial system, PDIC 101 empowers members of the local media with a clearer understanding of the important role that deposit insurance plays in safeguarding the public’s hard-earned savings. The sustaining initiative also demystifies the PDIC and the concept of deposit insurance; and clarifies the Corporation’s multifaceted roles as the state deposit insurer, co-regulator of banks, and statutory receiver of closed banks.
Since 2024, the PDIC and PIA have been collaborating to enhance public access to financial information, particularly on the benefits of saving in banks and the protection provided by deposit insurance. Through its extensive nationwide network, the PIA helps the PDIC reach more audiences to help them make informed financial decisions.
PDIC Vice President Jose G. Villaret, Jr. (Corporate Affairs Group) led PDIC 101 through an engaging discussion and dialogue with Cebu media from television, radio, print, and online media. VP Villaret underscored the PDIC’s core functions and highlighted the enhanced maximum deposit insurance coverage (MDIC) of P1 million per depositor, per bank, which took effect on March 15, 2025.
Having concluded its runs in Metro Manila, Luzon and Visayas, PDIC 101 is also set to have a run in Mindanao this year.
As the state deposit insurer, the PDIC protects depositors by providing coverage up to P1 million per depositor, per bank. It also manages the Deposit Insurance Fund, the fund source for payment of deposit insurance in the event of bank closures as ordered by the Monetary Board of the Bangko Sentral ng Pilipinas (BSP).
In its role as co-regulator of banks, the PDIC works closely with the BSP and financial regulators to reinforce financial stability. Meanwhile, when a bank is ordered closed by the BSP, the PDIC assumes responsibility as statutory receiver to administer the closed bank’s liquidation process by way of recovering assets through disposal activities and loan collections from borrowers. Liquidation aims to maximize recovery from closed banks’ assets to increase the chances that claims of closed banks’ creditors and uninsured depositors will be settled.
Through consumer education and collaboration with partner-agencies, the PDIC continues to play a key role in protecting depositors and maintaining public confidence in the country’s financial stability.
For more information on the PDIC and deposit insurance, the public is encouraged to visit the PDIC website, www.pdic.gov.ph and its official Facebook page, www.facebook.com/OfficialPDIC.
(PDIC)
