Under bank liquidation by the Bangko Sentral ng Pilipinas, what is the insured deposit amount for Don Quixote Doflamingo?

Under bank liquidation by the Bangko Sentral ng Pilipinas, what is the insured deposit amount for Don Quixote Doflamingo?

• A. P900,000
• B. P800,000
• C. P1,000,000
• D. P500,000

Answer: (C)

Deposits are protected by deposit insurance in bank liquidation, up to a fixed limit. In the Philippines, the coverage amount is 500,000 pesos per depositor per insured bank. This means that regardless of how many deposit accounts you hold at a single bank (savings, time deposit, etc.), the total protected amount you can recover from that bank during liquidation is 500,000 pesos. For joint accounts, each depositor is insured up to 500,000, which can increase the total insured amount for the account accordingly. So for Don Quixote Doflamingo, the insured deposit amount under bank liquidation would be 500,000 pesos.

Deposits are protected by deposit insurance in bank liquidation, up to a fixed limit. In the Philippines, the coverage amount is 500,000 pesos per depositor per insured bank. This means that regardless of how many deposit accounts you hold at a single bank (savings, time deposit, etc.), the total protected amount you can recover from that bank during liquidation is 500,000 pesos. For joint accounts, each depositor is insured up to 500,000, which can increase the total insured amount for the account accordingly. So for Don Quixote Doflamingo, the insured deposit amount under bank liquidation would be 500,000 pesos.