MB Resolution No. 316.B dated 10 March 2022 Prohibition of the Rural Bank of Mahaplag (Leyte), Inc., From Doing Business in the Philippines

BANGKO SENTRAL NG PILIPINAS CIRCULAR LETTEFI NO. C1.2O22.O25 OFFICE OF THE DEPUW GOVERNOR FINANCIAL SUPERVISION SECTOR To : ALL BANKSAND NON-BANK FINANCIAI lNSTlTUTloNs Subject : MB Resolutlon No.316.8 dated lO March 2OZ2 Prohlbltlon of the Rural Bank of Mahaplag (Leyte), Inc., From Dolng Buslness In the Phlllpplnes Notice is hereby given that the Monetary Board, in its Resolution No. 316.8 dated to March 20122, decided to prohibit the Rural Bank of Mahaplag (Leytel, Inc., from doing business in the Philippines pursuant to Section 30 of Republic Act (R.A.) No. 2653 Fhe New Central Bank Act), as amended. The Philippine Deposit Insurance Corporation has been designated as Fleceiver with a directive to proceed with the takeover and liquidation of the aforementioned rural bank in accordance with Section t2 (a) of R.A No. 3591 (PDIC Charter), as amended. For information and guidance. G. FONACIER lO March 2o22 t.ta t t.-a 'a ta'a t- t.-. a ' t.. t-t-t. t' a . a .