Enhanced Bank and Liquidation Act

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Republic Act No. 10846: Enhanced Bank Resolution and Liquidation Act

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Title Source: Supreme Court: Enhanced Bank and Liquidation Act

Law: Republic Act No. 10846

Decision Date: May 23, 2016

The Amendment to R.A. No. 3591, as Amended (Re: Resolution and Liquidation Framework for Banks), introduces provisions allowing the Corporation to issue bonds and other obligations for the settlement of insured deposits in closed banks, while imposing penalties for offenses related to closed banks, granting exemptions from certain laws, and authorizing reorganization of the Corporation.

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