Dehniece Aleck V.

Mangawang
BS Accountancy

Philippine Deposit Insurance Corporation

What are the functions of PDIC?

The functions of PDIC are Deposit Insurer in which they are giving deposit insurance
to protect the depositor from the loss. Thus, Liquidator of Closed Banks, it means that the
PDIC takes over banks that the Monetary Board has ordered closed, manages the assets,
paperwork, and business activities of closed banks, and maintains and sells these assets for
the benefit of creditors and uninsured depositors.

How does PDIC help the government in improving the economy?

In order to support public confidence and economic stability, PDIC offers deposit
insurance coverage to the depositing public. It implements effective management of
receivership and liquidation duties and ensures rapid payment of insured deposits. It also
supervises banks in a complementary manner. PDIC can help in improving the economy
because it can reduce the risk of financial crises.