PLEASE HELP ME THIS IS MY EXAM. I HAVE 1 HR TO ANXSWER.

1. How do you characterize the legal relationship between a commercial bank and its safety deposit box client? Explain.
2. Why are banks required to maintain reserves against their deposits and deposit substitutes? State the purposes for these reserves.
3. Under R.A. 10846 in Section 1 thereof states that: "There is hereby created a Philippine Deposit Insurance Corporation hereinafter referred to as the 'Corporation' which shall insure as herein provided, the deposits of all banks which are entitled to the benefits of insurance under this Act, and which shall have the powers hereinafter granted. "The Corporation shall, as a basic policy, promote and safeguard the interests of the depositing public by providing insurance coverage on all insured deposits and helping maintain a sound and stable banking system." Explain the foregoing declaration of policy.
4. Why banks, quasi banks and non-bank financial intermediaries are "Covered Persons" under Anti- Money Laundering Act? Explain.
5. Why securities market institutions are covered persons under Anti-Money Laundering Act (AMLA)? Explain.