MB Resolution No. 210.B dated 17 February 2022 Prohibition of the Rural Bank of San Lorenzo Ruiz (Siniloan), Inc., From Doing Business in the Philippines

BANGKO SENTRAL NG PILIPINAS CIRCULAR LETTEFI NO. CL-2O22-OI5I OFFICE OF THE DEPUW GOVERNOR FINANCIAL SUPERVISION SECTOR To : ALL BANKS AND NON-BANK FINANCIAL INSTITUTIONS Subject : MB Resolution No. 2lO.B dated l7 February 2o,22 Prohibition of the Rural Bank of San Lorenzo Ruiz (Siniloanl, Inc., From Doing Business in the Philippines Notice is hereby given that the Monetary Board, in its Resolution No. 2lO.B dated l7 February 2022, decided to prohibit the Rural Bank of San Lorenzo Ruiz (Siniloanl, Inc., from doing business in the Philippines pursuant to Section 30 of Republic Act (R.A.) No. 7653 (The 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 12 (a) of R.A. No.359l (PDIC Charter), as amended. For information and guidance. G. FONACIER 17 February 2012