Documents

Banking Assignment

Description
Description:
Categories
Published
of 2
All materials on our website are shared by users. If you have any questions about copyright issues, please report us to resolve them. We are always happy to assist you.
Share
Transcript
  1 David, Jason A. Flores, Kirstein Faye R. Galamiton, Jane A. JD 3B 1.   Lorelei will not be able to claim anything from the Philippine Deposit Insurance Corporation. The Philippine Deposit Insurance Corporation covers only the risk of a bank closure ordered by the Monetary Board. Thus, bank losses due to theft, fire, closure by reason of strike or existence of public disorder, revolution or civil war, are not covered  by PDIC. In the case at bar, the Rural Bank of Quezon City was razed  by fire due to faulty wiring and is not covered by the insurance from PDIC. Therefore, Lorelei will not be able to claim any amount from the PDIC. 2.   The total insured deposit of Polding is P650,000.00. The maximum insurance coverage provided for by the PDIC is P500,000.00 per depositor, however, when a depositor has a single account and a joint account in the same bank they should be insured separately, as a result, the depositor may have an insured deposit of up to P1,000,000.00. Here, Polding’s Time deposit account has an insurance coverage of P500,000.00. Polding’s Insurance coverage in his joint account with Flor is P150,000.00 because the insured amount shall be divided equally between or among co-owners of a joint account. With regards to Polding’s joint account with Florida Corporation, he is not entitled to any deposit insurance because Joint accounts held in the name of a juridical and a natural person shall be  presumed to belong solely to juridical entity. 3.   Jojo has no insured deposit. The savings account payable in Hong Kong and trust Accounts are not covered by PDIC. Likewise, the two (2) joint accounts does not give Jojo any insured deposit since joint accounts held in the names of a juridical entity and a natural person shall be presumed to belong solely to the juridical entity. 4.   The total insured deposits of Amina is totaled at P500,000.00 for her  joint account and P130,000.00 and single account. Amina does not have any insured deposit share in the and account with Florida Corporation because joint accounts held in the names of a juridical entity and a natural person shall be presumed to belong solely to the  juridical entity. Only her trust account, time deposit account, and her  joint accounts with Efren and Helen are insured following the Maximum Deposit Insurance Coverage and Section 5 of the PDIC Law. On the proportioning of the insured deposits in her name, the  2 collected insured deposits of both her joint and single accounts shall  be determined and insured with her accounts in United Savings Bank. Lastly, a depositor with single accounts and joint accounts may have insured deposits separately insured. (a) Negotiable Order of Withdrawal account P30,000.00 (b) Savings account payable in Hong Kong P200,000.00 (c) Trust account P0.00 (d) Time deposit account P100,000.00 (e) Joint “and/or” account with Efren  P250,000.00 (f) J oint “or” account with Helen  P250,000.00 (g) Joint “and” ac count with Florida Corporation P0.00 5.   The Bangko Sentral's utmost objective is to promote price stability conducive to a balanced and sustainable growth of the economy. To achieve such objective, BSP applies the Reverse Repurchase, by  borrowing money from commercial banks within the country instrument which can be used to control the money supply in the country. The BSP, like other central banks, offers term deposits as one of the monetary tools to absorb liquidity, a cash investment held at a financial institution in this tool your money is invested for an agreed rate of interest over a fixed amount of time, or term. BSP also extends discounts loans and advances to banking institutions in order to influence the volume of credit in the financial system. And lastly, the Bangko Sentral provides reserve requirements which refer to the  percentage of bank deposits and deposit substitute liabilities that  banks must set aside in deposits with the BSP which they cannot lend out, or where available through reserve-eligible government securities.
We Need Your Support
Thank you for visiting our website and your interest in our free products and services. We are nonprofit website to share and download documents. To the running of this website, we need your help to support us.

Thanks to everyone for your continued support.

No, Thanks
SAVE OUR EARTH

We need your sign to support Project to invent "SMART AND CONTROLLABLE REFLECTIVE BALLOONS" to cover the Sun and Save Our Earth.

More details...

Sign Now!

We are very appreciated for your Prompt Action!

x