THE Philippine Deposit Insurance Corp. (PDIC) and the State Corporation Deposit Insurance Agency Russian Federation (DIA) signed an agreement on cross border cooperation on May 29 in Moscow, Russia.

The memorandum of understanding (MOU) was signed by PDIC President Roberto B. Tan and DIA Russia General Director Yury O. Isaev at the sidelines of the 55th Executive Council Meeting and International Conference of the International Association of Deposit Insurers (IADI).

Under the agreement, PDIC and DIA Russia agreed to the exchange of knowledge, experience and views on the implementation of internal standards towards a more effective deposit insurance system for both agencies. (PR)