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Oct 13 Assignment: II. Laws On Secrecy of Bank Deposits

This document outlines provisions related to bank operations and secrecy of bank deposits under Philippine law. It lists relevant sections of statutes like the Corporation Code and Manual of Regulations for Banks, as well as precedential court cases. The laws discussed include Republic Act 1405 on bank secrecy, Republic Act 6426 on foreign currency deposits, and exceptions to secrecy under statutes like the Anti-Graft and Corrupt Practices Act and Anti-Money Laundering Act.

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90 views1 page

Oct 13 Assignment: II. Laws On Secrecy of Bank Deposits

This document outlines provisions related to bank operations and secrecy of bank deposits under Philippine law. It lists relevant sections of statutes like the Corporation Code and Manual of Regulations for Banks, as well as precedential court cases. The laws discussed include Republic Act 1405 on bank secrecy, Republic Act 6426 on foreign currency deposits, and exceptions to secrecy under statutes like the Anti-Graft and Corrupt Practices Act and Anti-Money Laundering Act.

Uploaded by

Natsu Dragneel
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Oct 13 Assignment

I. Provisions Applicable to All Banks, QBs and Trust Entities


i. Chapter III, Sections 33-46
ii. MORB, Section X201- X203 (Demand Deposits) and Section X303
(SBL)
iii. Check Section 32, Corporation Code on Self dealing transactions
iv. Cases:
1. People v. Go, G.R. No. 191015. August 6, 2014
2. Spouses Ginorella v. PNB, G.R. No. 194515. September 16,
2015.
3. Go v. Bangko Sentral, GR 178429, October 23, 2009
4. Soriano v. People, GR No. 162336, Feb 1, 2010
5. PNB v. IAC, GR No. 126908, Jan 16, 2003
6. Floirendo v. Metrobank, GR 148625. Sept 3, 2007
7. Macalinao v. BPI, GR No. 175490, Sept 17, 2009

II. Laws on Secrecy of Bank Deposits


i. R. A. No 1405
ii. R. A. No. 6426 (Foreign Currency Deposit Act)
1. Section 55(b), R.A. No 8791
2. Section 21(a)(2), R.A. No. 7906; Section 26(a)(2) of R.A. No.
7353
3. Exceptions under other laws (No need to read all provisions
of the Laws below)
i. Section 26, R.A. No. 7653
ii. Section 6(F), NIRC, as amended
iii. RA No. 3019 (Anti Graft and Corrupt Practices Act)
iv. RA No. 6770, Section 15 (Ombudsman Act)
v. RA No, 9160, As amended (AMLA), Section 9, 11
vi. RA No. 9372 (Human Security Act)
iii. Cases:
1. Mellon Bank, NA v. Magsino, 190 SCRA 633 (1990)
2. Union Bank v. CA, GR 134699, December 23, 1999
3. Marquez v. Desierto, 359 SCRA 772 (2001)
4. PNB v. Gancayco, 122 Phil 503 (1965)
5. Ejercito v. Sandiganbayan, 509 SCRA 190 (2006)
6. Salvacion v CBP, 278 SCRA 27 (1997)
7. China Banking Corporation v. CA, 511 SCRA 110 (2006)

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