MB Resolution No. 1777.A dated 06 October 2016: Prohibition of the Rural Bank of Luna (Isabela), Inc. From Doing Business in the Philippines

EIANOKO SEruTNAL NG PILIPINAS OFFICE OF THE DEPUW GOVERNOR SUPERVISION AND EXAMINATION SECTOR CIRCULAR LETTER NO. CL _20T6 - OR4 To ALt BANKS AND NON.BANK FINANCIAL INSTITUTIONS Subject : MB Resolution No. L777.A dated 05 October 2016 Prohibition of the Rural Bank of Luna (lsabela), Inc. From Doing Business in the Philippines Notice is herebygiven thatthe Monetary Board, in its Resolution No. L777.A dated 05 October 2016, decided to prohibit the Rural Bank of Luna (lsabela), Inc., from doing business in the Philippines pursuant to Section 30 of Republic Act (R.A.) No. 7553 (The New Central Bank Act). The Philippine Deposit Insurance Corporation has been designated as Receiver 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. 3591 (PDIC Charter), as amended. For information and guidance. 06 october 2016 A. Mabini 5t., Malate 1004 Manila, Phllippines . {632) 7A8-77A1.. www.bsp.gov.ph . [email protected]