Press Release
February 11, 2012

Trillanes: No cause for bank jitters

Senator Antonio "Sonny" F. Trillanes IV asserted that there is absolutely no basis for the claims of some quarters that the subpoena issued by the Senate sitting as an impeachment court ordering the opening of the dollar accounts allegedly owned Chief Justice Renato C. Corona with the PSBank will result to loss of privacy of bank deposits and will adversely affect country's banking system.

"First of all, the exception from the bank and foreign currency deposit secrecy laws which will result from the implementation of the subpoena will apply to a handful of impeachable officials only and specifically in impeachment cases only," Trillanes said.

Trillanes pointed out that under the Constitution, only the President, the Vice President, members of the Supreme Court, the Ombudsman and Chairmen and Commissioners of the Constitutional Commissions can be the subjects of impeachment.

"It is very clear that investors, corporations, private businesses and private individuals and even ordinary officials and rank-and-file government employees will not be affected since they are not impeachable officers and can never be respondents in any impeachment case," Trillanes added.

"At the end of the day, only corrupt, high-ranking government officials can potentially be affected by the precedent created by the impeachment court's ruling. This should in fact be a welcome development because the law should never be a refuge for those engaged in corruption and other criminal activities," Trillanes said.

Trillanes is the youngest member of the Senate and sits as one of the 23 Senator-Judges in the impeachment case against Chief Justice Renato C. Corona.

The Supreme Court on Friday issued a Temporary Restraining Order (TRO) prohibiting the disclosure of supposed foreign currency accounts of the Chief Justice but some quarters, including some senators, are urging the Senate to defy the TRO.

The Senate is going to decide on the matter in a caucus called for the purpose on Monday at 11:00 a.m., shortly before the Senate is set to convene as an impeachment court at 2:00 p.m.

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