MB Resolution No. 1034 dated 14 July 2011: Placement of the Rural Bank of Matanao (Davao del Sur), Inc. under Receivership

BANEKo SenrnNL NG' PILIPINA,Ei OFFICE OF THE DEPUW GOVERNOR SUPERVISION AND EXAMINATION SECTOR MEMORANDUM NO. M - 2011 - 038 To ALL BANKS AND NON-BANK FINANCIAT INSTITUTIONS Subject : MB Resolution No. 1034 dated 14July 2011 Placement of the Rural Bank of Matanao (Davao del Surl, Inc. under Receivership Notice is hereby given that the Monetary Board, in its Resolution No. 1034 dated 14 July 2011 decided to prohibit the Rural Bank of Matanao {Davao del Sur}, Inc. from doing business in the Philippines and to place its assets and affairs under receivership pursuant to Section 30 of Republic Act (R.A.) No. 7653 (The New Central Bank Act). The Philippine Deposit Insurance Corporation has been designated as Receiver of the aforementioned rural bank. For information and guidance. iH'ffi,KDeputy Governor L4JulyZ0tl i.. lrlaliini Si.. [,'laiate 10$4 M;niia, Phiiipr:ines . {632} 524-?011 ' wvrw.bsp.gov.ph r [email protected],sl1