MB Resolution No. 198.A dated 09 February 2018 - Prohibition of the Rural Bank of Loreto (Surigao del Norte), Inc. From Doing Business in the Philippines

BANoKo Serurne|. NO PILIPINAS OFFICE OF THE DEPUW GOVERNOR SUPERVISION AND EXAMINATION SECTOR crRcuLAR LETTER NO. CL = 2018 - II]JL To ALL BANKS AND NON.BANK FINANCIAL INSTITUTIONS Subject : MB Resolution No. 198.A dated 09 February 2018 Prohibition of the Rural Bank of Loreto (Surigao del Norte), Inc. From Doing Business in the Philippines Notice is hereby given that the Monetary Board, in its Resolution No. 198.4 dated 09 February 2018, decided to prohibit the Rural Bank of Loreto (Surigao del Norte), Inc., from doing business in the Philippines pursuant to Section 30 of Republic Act (R.A.) No. 7553 (The New Central Bank Act). The Philippine Deposit lnsurance Corporation has been designated as Receiver with a directive to proceed with the takeover and liquidation of the aforementioned rural bank in accordance with Section 12 (a) of R.R. No. 3591 (PDIC Charter), as amended For information and guidance. 09 February 2018 A. Mabini St., Malate 1004 Manila, Philippinss r (632) 7A8-77O'1.. www.bsp.gov.ph . [email protected]