Photo Release

PHILIPPINE DEPOSIT INSURANCE CORPORATION: Senator Sergio Osmeña III, Senate Committee on Banks, Financial Institutions and Currencies chairman, questions officials from the Philippine Deposit Insurance Corporation (PDIC) on the proposed amendments to the PDIC Charter (Republic Act No. 3591) during Thursday’s hearing. Under Senate Bill No. 2268, a regulatory framework will be in place to ensure all efforts will be exhausted to save a failing bank before it is ordered closed. That way, the negative impact of bank closures on the stability of the banking system and its adverse repercussions on the depositing public will be minimized, Osmeña said. (PRIB PHOTO by Romeo Bugante / 17 September 2015)