MB Resolution No. 709 dated 27 May 2010 - Placement of the Cooperative Bank of Camarines Sur Under Receivership
MEMORANDUM NO. M-2010-011
To: All Banks and Non-Bank Financial Institutions
Subject: MB Resolution No. 709 dated 27 May 2010 - Placement of the Cooperative Bank of Camarines Sur Under Receivership
Notice is hereby given that the Monetary Board, in its Resolution No.709 dated 27 May 2010 decided to prohibit the Cooperative Bank of Camarines Sur from doing business in the Philippines and to place its assets and affairs under receivership pursuant to Section 30 of Republic Act No. 7653.
The Philippine Deposit Insurance Corporation has been designated as Receiver of the aforementioned rural bank.
For information and guidance.
NESTOR A. ESPENILLA, JR. Deputy Governor
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