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Banking Laws Compendium
Banking Laws Compendium
THE LAWS ON
SECRECY OF BANK DEPOSITS
A LEGAL PRIMER
(ii)
(ii)
(iii)
(i)
(ii)
(a)
(b)
(c)
(d)
(2)
(3)
(4)
(b)
(c)
(e)
(2)
(2)
for
ransom,
violation
of
the
Comprehensive Dangerous Drugs Act,
hijacking and other violations under
Republic Act No. 623510, destructive
arson and murder (Sec. 11 of Republic
Act No. 916011).
(f)
(2)
(g)
The
Philippine
Deposit
Insurance
Commission and the Bangko Sentral may
inquire into bank deposits when there is a
finding of unsafe or unsound banking
practices. (Sec. 8, Rep. Act No. 3591, as
amended)
(h)
(iii)
(i)
(j)
(b)
Authorized Disclosures
Disclosures by authorized and responsible
officials are allowed in the following instances:
bank
(i)
(ii)
(iii)
(iv)
Penalties
Violation of Republic Act No. 1405 will subject the
10
(ii)
(iii)
11
(ii)
(iii)
(iv)
(ii)
(b)
(c)
(1)
(2)
(2)
(d)
(2)
(e)
The
Philippine
Deposit
Insurance
Commission and the Bangko Sentral may
inquire into bank deposits when there is a
finding of unsafe or unsound banking
practices. (Sec. 8, Rep. Act No. 3591, as
amended)
(f)
(g)
The Presidential
Government, in
Commission on Good
the conduct of its
15
(b)
Penalties
Violation of Republic Act No. 6426 shall subject the
offender, upon conviction, to the following penalties:
16
(i)
(ii)
(iii)
(ii)
17
without the
depositor;
written
permission
of
the
18
(b)
(c)
(ii)
(iii)
(ii)
in cases of impeachment;
(iii)
(iv)
(a)
(iii)
(b)
21
See Guingona, Jr., et.al v. The City Fiscal, et.al., 128 S.C.R.A. 577
(1984).
See
http://www.treasury.gov.ph/govsec/aboutsec.html
&
http://invest.cfo.gov.ph/pdf/part1/investment-in-government-bondsand-securities.pdf
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