WHEREAS, it is for the national interest that the government's saving mobilization campaign, underlined by Presidential Proclamation No. 380, otherwise known as Savings Consciousness Week be given greater impetus by highlighting depositor protection and awareness;

WHEREAS, the government further recognizes the need to strengthen and vigorously pursue the protection of small, unsophisticated depositors as a vital factor in enhancing stability of the banking system to complement the government's thrust and the Filipino vision of sustained economic growth and development;

WHEREAS, the Philippine Deposit Insurance Corporation (PDIC), in celebrating its 40th founding anniversary on June 22, shall focus on the relevance and importance of its mandate of depositor protection to provide greater significance to the event;

WHEREAS, the move towards meaningful reforms in the banking industry can be genuinely attained thru enhanced depositor protection, given the increasing importance of an enlightened and empowered depositing public in the collective efforts to sustain confidence in the banking system;

WHEREAS, to effectively impart this awareness, it is imperative to wage and institute a continuing, nationwide campaign that will include all sectors of society, as well as all levels and instrumentalities of the government.

NOW, THEREFORE, I, GLORIA MACAPAGAL-ARROYO, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby declare June 16-22 of every year as "DEPOSITOR PROTECTION AND AWARENESS WEEK".

For this purpose, the Secretary of Finance, Secretary of Education, Secretary of the Interior and Local Government, Director General of the National Economic and Development Authority, the Governor of the Bangko Sentral ng Pilipinas, the President of the Philippine Deposit Insurance Corporation as well as all heads of Departments, Bureaus, Offices, Agencies, and Instrumentalities of the Government, Local Government Units of all levels, and Government-Owned and Controlled Corporations are hereby directed to undertake activities in accordance with the merit of this proclamation.

The Bankers Association of the Philippines, Chamber of Thrift Banks, Rural Bankers Association of the Philippines, Bankers Institute of the Philippines, Bank Marketing Association of the Philippines, Financial Executives Institute of the Philippines; and all members of the mass media, civic and commercial associations and non-governmental organizations as well as the citizenry are hereby requested to extend their full support and cooperation in this campaign.

IN WITNESS WHEREOF, I have hereunto set my hand and caused the seal of the Republic of the Philippines to be affixed.

Done in the City of Manila, this 4th day of April, in the year of Our Lord, two thousand and three.


By the President:

ALBERTO G. ROMULO
Executive Secretary