BSP Memoranda BSP Memoranda No. M07192002BSP Memoranda No. M07192002 2002-07-19T00:00:00.000+08:00
To prohibit the COOPERATIVE BANK OF ALBAY, INC. from doing business in the Philippines and that its assets and affairs be placed under receivership
MEMORANDUM Series of 2002
TO: ALL BANKS
Notice is hereby given that the Monetary Board, in its Resolution No. 1010 dated July 11, 2002, approved and confirmed to prohibit the COOPERATIVE BANK OF ALBAY, INC. from doing business in the Philippines and that its assets and affairs be placed under receivership in accordance with Section 30 of R.A. No. 7653.
The Philippine Deposit Insurance Corporation has been designated as Receiver of the aforementioned rural bank.
For information and guidance. FOR THE MONETARY BOARD:
ALBERTO V. REYES Deputy Governor
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