Central Bank of the Philippines signs revised bank examination memorandum with Philippine Deposit Insurance Corporation to clarify roles and expand data sharing

The Central Bank of the Philippines and the Philippine Deposit Insurance Corporation (PDIC) signed a revised Memorandum of Agreement (MOA) on bank examination, aimed at improving coordination in the conduct of bank examinations through a clearer division of responsibilities and stronger information sharing. Under the revised MOA, the Central Bank of the Philippines will focus on credit, market, and operational risks, while the PDIC will focus on deposit-related risks. The update is intended to prevent duplication of efforts and establishes a data-sharing framework to optimize the use of bank reports, information, and examination findings, with access subject to applicable confidentiality provisions. It also sets out detailed joint examination activities, including planning and scheduling, pre-examination work, conduct of joint examinations, report writing, issuance of directives, and monitoring compliance by examined banks; the revised MOA is the second amendment to the original 2005 agreement and is aligned with the amended charters of both agencies.