• Personal Property Security Act (PPSA) was signed into law on 17 August 2018.
  

• The law aims to promote economic activity by increasing access to least cost credit, particularly for micro, small, and medium enterprises (MSMEs), by establishing a unified and modern legal framework for securing obligations with personal property.
  

• The law shall apply to all transactions of any forms that secure an obligation with personal property, whether it is tangible or intangible asset.

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• Moral damages include physical suffering, mental anguish, fright, serious anxiety, besmirched reputation, wounded feelings, moral shock, social humiliation, and similar injury.
  

• In the adjudication of moral damages, the sentimental value of property, real or personal, may be considered.
  

• Willful injury to property may be a legal ground for awarding moral damages if the court should find that, under the circumstances, such damages are justly due.

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• All foreign currency deposits are declared as and considered of an absolutely confidential nature.
  

• Foreign currency deposits shall be exempt from attachment, garnishment, or any other order or process of any court.
  

• Commissioner of Internal Revenue is allowed to inquire into foreign bank deposits.

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• Any person, natural or juridical, may, in accordance with the provisions the Foreign Currency Deposit Act, deposit with such Philippine banks in good standing, as may, upon application, be designated by the Central Bank for the purpose.
  

• The banks designated by the Central Bank shall have the authority to accept deposits and to accept foreign currencies in trust.
  

• The banks designated by the Central Bank shall have the authority to pay interest in foreign currency on such deposits.

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