ILIGAN City ― The collapse of the Silicon Valley Bank in America sent jitters all over the world financially. So, the US government did not take it sitting down. The Federal Deposit Insurance Corporation immediately came in. So depositors could get back their deposits up to $250,000. Deposits beyond that, it's "yayay" time. I mean in excess of that amount.
Pres. Joe Biden said several mouthfuls regarding that, saying among other things that the CEO of the said bank should be faulted and penalized.
Chinese clients of said bank feared that "only the US citizens" would be entertained. There was assurance though that "all" would be attended to.
Our Bankers Association of the Philippines quickly gave assurance that the said unfortunately happening "would not impact" our banking system here. Anyway, the general public here could not care less about it. What do they care about when there are more exciting things happening here? Like the coming barangay-SK erections, I mean elections and the filing of Certificates of Candidacy which had been postponed from July to August.
Well, I think that's good. Because there are more exciting things to do other than panicking. And I don't think that panicking is exciting. Although I've been there and done that, as the cliche goes. Because the collapse of the Banco Filipino sent me to the bank panicking like the others. Although I'm not a millionaire, just a "thousandaire" sometimes, (if there's such a term).
And the bank, seeing the rush of people put up a "take it easy" face. They offered some soft drinks and some snacks to all that people. It helped a little.
When I got my few thousand, I went to another bank, the Manila Bank. Putting caution to the winds. For at that time, I heard the Aranetas, the majority stockholders weren't doing good. Meaning the bank too was in danger of collapsing. But I fancied its passbooks. It was so cute. (The ATM wasn't that popular during the '80s).
Well, that bank did collapse. Sending me again and other Cagayanons to that bank then. (We were living in CDO at that time.) I saw that there was only lone personnel from the Philippine Deposit Insurance Corporation who attended to the rush of people to the withdrawal. Yet the PDIC man was taking it easy. I heard him say: "Mabuti na lang at mabait itong taga Cagayan de Oro." And I promptly replied that we couldn't do anything, other than "magpakabait." There was laughter. Which somehow lessened the atmosphere.
Then we were made to purchase some documentary stamps. And those stamps were a mile away! At the Bureau of Internal Revenue. What could we do? So off we went to the BIR.
In time though, when my family moved to Iligan City as hubby Bert was reassigned there by his company, a miracle happened. Banco Filipino rose from its grave! Its mantra of "Subok na Matatag, Subok na Matibay" came up again... What did I do?
I patronized it too! Never mind if I had that sad experience more than a decade ago in CDO. Where before, my reason for patronizing BF bank was because it had a weighing machine there. And like any other vain woman, my main purpose there was really to stand at the said machine and see if I had lost some weight, hahaha.
This time, my main reason for the BF bank in the city of Iligan was that it was just a little more than ten steps away from the office.
Suddenly, there occurred a holiday in that bank! When I told some of my friends about that, they joked that maybe, bankruptcy was following me!
Anyway, in time I was able to withdraw. With some "th" or "trying hard" effort.
Sometime after that, when I got to talking with my friend Fely. I said, "maybe, to avoid such collapsing matters in banks, if I become a 'thousaner' I'll just keep them in the cabinet in the house or put them under some pillow."
"Dangerous," she said. "You have to contend with a sure robber!"
"How come?" A mystified me asked. "And who is the 'sure' robber?"
"Yourself! How can you protect yourself from robbing yourself?"
It was a sane statement. At the same time, ridiculous!
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