MB Resolution No. 694.A dated 01 June 2023 Prohibition of the Bangko Pangasinan – A Rural Bank, Inc. From Doing Business in the Philippines

BANGKO SENTRAL NG PILIPINAS OFFICE OF THE DEPUW GOVERNOR I FINANCIAL SUPERVISTON SECTOR CIRCULAR LETTER NO. CL-2O23-O33 To ALL BANKSAND NON-BANK FINANCIAL INSTITUTIONS Subject MB Resolution No. 694.A dated Ol f,une 2O23 Prohibition of the Bangko Pangasinan - A Rural Bank, Inc. From Doing Business in the Philippines Notice is hereby given that the Monetary Board, in its Resolution No. 694.A dated Ol June 2023, decided to prohibit the Bangko Pangasinan - A Rural Bank,lnc., from doing business in the Philippines pursuant to Section 3O of Flepublic Act (R.A.) No. 7653 (The New Central Bank Act), as amended. The Philippine Deposit Insurance Corporation has been designated as Fleceiver with a directive to proceed with the takeover and liquidation of the aforementioned rural bank in accordance with Section]2 (a) of R.A. No. 359'l (PDIC Charter), as amended. For information and guidance. O] June 2023