MB Resolution No. 1570.A dated 10 October 2019 Prohibition of the Rural Bank of Larena (Siquijor), Inc. from Doing Business in the Philippines

BANGKO SEI\|TNEL NG PILIPINAS OFFICE OF THE DEPUTY GOVERNOR FINANCIAL SUPERVISION SECTOR CIRCULAR LETTER NO. CL _2019 - 077 To ALL BANKS AND NON.BANK F!NANCIAL INSTITUTIONS Subject : MB Resolution No. 1570.A dated 10 October 2019 Prohibition of the Rural Bank of Larena (siquijorf, Inc. From Doing Business in the philippines Notice is hereby given that the Monetary Board, in its Resolution No. 1570.A dated 1'0 October 20L9, decided to prohibit the Rural Bank of larena (Siquijor], Inc., from doing business in the Philippines pursuant to Section 30 of Republic Act (R.A.) No. 7553 (The New Central Bank Act), as amended. 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 L2 (al of R.A. No. 3591 (pDlC Charter), as amended. For information and guidance. G. FONACIER 10 October 2019 ir-. a t(\ tl c A1 (, I