The Philippine Deposit Insurance Corporation (PDIC) maintains its P250 billion reserve funds are adequate despite the Department of Finance (DOF) order to transfer excess funds. While the PDIC remitted P107.23 billion to the Bureau of the Treasury, President Roberto B. Tan stated the insurer will not be transferring any more funds and its remaining reserve is more than enough to support its operations.
The Philippine Deposit Insurance Corporation ( PDIC ) stated that its P250 billion in reserve funds remains sufficient despite the Department of Finance’s (DOF) order to transfer its “excess funds.” PDIC President Roberto B. Tan told reporters at the 2025 Annual Reception for the Banking Community that the insurer has remitted P107.23 billion to the Bureau of the Treasury to fund programs and projects under unprogrammed appropriations in the 2024 General Appropriations Act.
“The adequacy is more than what the directors targeted for that. So, it’s in good shape. So, I don’t think there’s anything to be alarmed about,” Tan said.To recall, the DOF issued Memorandum Circular No. 003-2024, ordering the Philippine Health Insurance Corporation (PhilHealth) and PDIC to remit P89.9 billion and P110 billion, respectively, to the Treasury. The sweeping of reserve funds sparked outrage among the public, which resulted in the Supreme Court issuing a temporary restraining order (TRO) to PhilHealth to stop the remittance. Although the PDIC is exempted from the TRO, Tan said the insurer will not be transferring any more excess funds to the Treasury. Tan said PDIC still has around P250 billion in deposit insurance fund (DIF), which is “more than enough.” “The banking system right now is very healthy based on financial indicators. So I don’t think there’s anything to worry about,” Tan said.In a statement released by the DOF on Sunday, the PDIC said its remittance to the Treasury supports government-wide efforts to boost the economy through funding the national government’s priority projects. “These projects will spur more economic activities that are expected to lead to higher deposits in banks and the growth of financial institutions to provide more financial products and services to Filipinos nationwide,” the PDIC said. “The national government assures the depositors and other stakeholders of the PDIC that this remittance does not compromise the soundness of the DIF which the Corporation prudently manages,” it added
PDIC RESERVE FUNDS GOVERNMENT ECONOMY INSURANCE
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