Conversion of Cabanatuan City Development Bank from a thrift bank into a rural bank, to be known as Millennium Bank, Inc., A Rural Bank

CIRCULAR LETTER Series of 2002

To: All Banks and Non-Bank Financial Institutions with Quasi-Banking Functions

The Monetary board, in its Resolution No. 1369 dated August 30, 2001, approved the conversion of the Cabanatuan City Development Bank from a thrift bank into a rural bank, to be known as the "Millennium Bank, Inc., A Rural Bank."

The Certificate of Authority to operate as a rural bank was signed and issued by the Officer-in-Charge on September 27, 2002.

For information and guidance.

ALBERTO V. REYES Deputy Governor