MANILA, Philippines — The Philippine Deposit Insurance Corporation (PDIC) on Monday launched the 23rd Depositor Protection and Awareness Week (DPAW), highlighting strengthened depositor safeguards following the recent increase in the country’s deposit insurance coverage.

With the theme “Bank Deposit Mo, MAS Protektado,” the weeklong observance runs from June 16 to 22 in line with Presidential Proclamation No. 358, which declared DPAW as an annual event to support financial stability and economic growth.

A key highlight of this year’s observance is the doubling of the Maximum Deposit Insurance Coverage (MDIC) from P500,000 to P1 million per depositor, per bank, which took effect on March 15, 2025. The PDIC said this increase reflects the agency’s commitment to bolstering depositor protection and confidence in the banking system.

The adjustment is the first to be implemented under the expanded authority granted by the amended PDIC Charter in 2022, which allows the PDIC Board of Directors to revise the MDIC based on inflation or other economic indicators—without needing Congressional approval.

To widen public awareness, the PDIC has partnered with banks, bank groups, and government agencies to promote DPAW through materials displayed in banking premises, ATMs, and social media platforms. All DPAW-related content is available on the PDIC website: www.pdic.gov.ph/dpaw.