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

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

    Uploaded by

    Natsu Dragneel
    53 views1 page
    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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    Oct 13 Assignment

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    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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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    53 views1 page

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

    Uploaded by

    Natsu Dragneel
    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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    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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