Philippines Raises Bank Deposits Insurance to 500,000

Philippine President Gloria Macapagal Arroyo signed into law Wednesday the amendments to the charter of the Philippine Deposit Insurance Corp. to raise the insurance coverage of bank deposits from 250,000 pesos (US$182,88) to 500,000 pesos (US$36,577). President Arroyo said the amendments to the charter are part of reforms designed to increase protection of bank deposits […]

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