Republic Acts1 min read
Section 5Sec./Art. 5
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Section 6 of the same Act is hereby further amended to read as follows:
"DEPOSIT INSURANCE COVERAGE
"Section 6. The deposit liabilities of any bank which is engaged in the business of receiving deposits as herein defined on the effective date of this Act, or which thereafter may engage in the business of receiving deposits, shall be insured with the Corporation. The Corporation may establish separate insurance funds and insurance arrangements or structures or takaful that take into consideration the peculiar characteristics of Islamic banking.
"Whenever a bank is determined by the Bangko Sentral ng Pilipinas to be capital deficient, the Corporation may conduct an insurance risk evaluation on the bank to enable it to assess the risks to the DIF. Such evaluation may include the determination of: (i) the fair market value of the assets and liabilities of a bank; or (ii) the risk classification of a bank."
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