MB Resolution No. 2180.A dated 08 December 2016: Prohibition of the Eastern Rizal (Jalajala) Rural Bank, Inc. From Doing Business in the Philippines

BANoKo SexrnIL NG PILIPINAS OFFICE OF THE DEPUTY GOVERNOR SUPERVISION AND EXAMINATION SECTOR CIRCULAR LETTER NO. CL _20T6 - 099 To AtL BANKS AND NON-BANK FINANCIAL INSTITUTIONS Subject : MB Resolution No. 2180.A dated 08 December 2015 Prohibition of the Eastern Rizal (Jalalala) Rural Bank, Inc. From Doing Business in the Philippines Notice is hereby given that the Monetary Board, in its Resolution No. 2180.A dated 08 December 20L6, decided to prohibit the Eastern Rizal (Jalalala) Rural Bank, Inc., from doing business in the Philippines pursuant to Section 30 of Republic Act (R.A.) No. 7653 (The New Central Bank Act). The Philippine Deposit Insurance 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.A. No. 3591 (PDIC Charter), as amended. For information and guidance. il*"^ff Deputy Governo 08 December 2016 A. Mabini St., M-llate L004 Manila, Philippines . {632i 708-7701. . www.bsp.gov"ph . [email protected]