MB Resolution No. 237 dated 23 February 2006 Placing The Center Rural Bank, Inc. Under Receivership
MEMORANDUM Series of 2006
TO : All Banks and Non-Bank Financial Institutions Subject : MB Resolution No. 237 dated 23 February 2006 Placing The Center Rural Bank, Inc. Under Receivership
Notice is hereby given that the Monetary Board, in its Resolution No. 237 dated 23 February 2006, decided to prohibit The Center Rural Bank, Inc. from doing business in the Philippines and to place its assets and affairs under receivership pursuant to Section 30 of R.A. 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
More in BSP Memoranda
- Additional Eligible Credit Instruments, Revised Loan Documents and Availment Procedures for the Bangko Sentral ng Pilipinas (BSP) Rediscount Facilities(BSP Memoranda No. M-2020-024)
- Increase in liquidity reserve requirement against peso denominated CTF and TOFA-Others of all UBs, KBs and non-bank financial intermediaries performing trust and other fiduciary business(BSP Memoranda)
- Guidelines on the Electronic Submission of Report on Inventory of Bank Network (IBN)(BSP Memoranda No. M-2018-016)
- Guidelines on the Electronic Submission of the BASEL III Net Stable Funding Ratio (NSFR) Report and Liquidity Coverage Ratio Report (LCR)(BSP Memoranda No. M-2020-003)
- Frequently Asked Questions (FAQs) on the Financial Reporting Package (FRP)(BSP Memoranda No. M-2007-044)
- Extension of the Moratorium on the Entry of New EMI-NBFIs(BSP Memoranda No. M-2023-035)
- To request stop payment of BSP Check to Emmanuel Torres(BSP Memoranda No. M12212001)
- Guidelines on the Issuance of Certificate of Registration and Other Applications Requiring Prior Approval(BSP Memoranda No. M-2017-014)
Want an analysis of this document?
Ask ASG Legal AI to summarize it, compare it with other rulings, or explain how it applies to your situation — it researches from this same library.