Dec. 11 deadline set for claims in 3 closed rural banks

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THE PHILIPPINE Deposit Insurance Corp. (PDIC) has called on depositors of three closed rural banks in different parts of Luzon to file their claims on or before Dec. 11.

PDIC said the Rural Bank of Caba (La Union), Inc., which was closed by the Monetary Board on Dec. 10, 2015, still has deposit insurance claims for 445 accounts amounting to P1.1 million that have yet to be filed. As of Oct. 31 this year, P22.6 million has been paid out by PDIC, corresponding to 94.9% of the bank’s total insured deposits totaling P23.8 million.

For the Peñafrancia Rural Bank of Calabanga (Camarines Sur), also closed on Dec. 10, 2015, there are still deposit insurance claims for 94 accounts with an aggregate amount of P4.5 million that have yet to be filed by depositors. The paid out amount is P41.4 million, covering 89.6% of the bank’s total creditors.

The Cabanatuan City Rural Bank, Inc., on the other hand, was closed just last Sept. 28. PDIC said depositors with account balances of more than the maximum deposit insurance coverage (MDIC) of P500,000 who file claims for the insured portion of their deposits as of Dec. 11 “are deemed to have filed their claims for the uninsured portion or the amount in excess of the MDIC.”

PDIC stressed that claims filed after the Dec. 11 deadline shall be disallowed. Claims may be filed directly at the PDIC Public Assistance Center located at the 3/F, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino St., Makati City, Monday to Friday, 8:00 a.m. to 5:00 p.m, except holidays. Creditors may also file their claims through mail addressed to the PDIC Public Assistance Department at the 6th floor of the same building.