MANILA—The Bangko Sentral ng Pilipinas (BSP) and the Philippine Deposit Insurance Corp. (PDIC) signed a revised memorandum of agreement (MOA) on bank examination on Oct. 17, 2025 to improve coordination and streamline the supervision of banks.
The revised agreement is intended to define a clearer division of labor between the two financial regulators, avoid duplication of efforts and establish a framework for data sharing.
“This new MOA strengthens our partnership by defining our division of labor more clearly. BSP focuses on credit, market, operational risks. PDIC focuses on deposit-related risks,” said BSP Governor Eli Remolona Jr.
PDIC president and chief executive Roberto Tan cited the benefit for the public. “For depositors, today’s agreement is a renewed assurance—your hard-earned savings are safeguarded by two financial regulators, working seamlessly together to uphold your trust,” Tan said.
This is the second amendment to the original 2005 agreement and aims to optimize the use of bank reports, information and findings. It also aligns with the recently amended charters of both the BSP and the PDIC.
The amended MOA details joint examination-related activities, including the planning and scheduling of joint bank examinations, pre-examination activities, the conduct of joint examinations, report writing, issuance of directives and monitoring of compliance with those directives by the examined banks.
The revised agreement also strengthens information sharing, granting both agencies access to bank examination and other reports, information and findings, subject to existing confidentiality provisions.
