BSP Memoranda BSP MemorandaBSP Memoranda 2005-01-14T00:00:00.000+08:00
To prohibit the Banco Rural Legaspi, Inc. and Banco Rural Sorsogon, Inc. from doing business in the Philippines and to place their assets and affairs under receivership
MEMORANDUM Series of 2005
TO : All Banks
Notice is hereby given that the Monetary Board, in its Resolution No. 46 dated 13 January 2005, approved and confirmed to prohibit the BANCO RURAL LEGASPI, INC. and BANCO RURAL SORSOGON, INC. from doing business in the Philippines and to place their assets and affairs under receivership in accordance with Section 30 of R.A. No. 7653.
The Philippine Deposit Insurance Corporation has been designated as Receiver of the aforementioned rural banks.
For information and guidance.
ALBERTO V. REYES Deputy Governor
More in BSP Memoranda
- Guidelines on Proposed Investment from Third Party Investors (TPIs) for Purposes of Complying with the Minimum Capital Requirements(BSP Memoranda No. M-2014-002)
- Reminder on Sound Risk Management Practices when Dealing with Virtual Currency Exchanges(BSP Memoranda No. M-2019-021)
- Temporary Relief Measure on the Transactions with <i>PhilPaSS</i> During the Enchanced Community Quarantine (ECQ) Period under the Corona Virus Disease (CoVID-19) Situtation(BSP Memoranda No. M-2020-027)
- Frequently Asked Questions (FAQ) IV on the Implementing Rules and Regulations (IRR) of Section 4(aa) of Republic Act No. 11469, Otherwise Known as the "Bayanihan to Heal As One Act" (Bayanihan Act)(BSP Memoranda No. M-2020-045)
- Authority of the Insurance Commissioner to Appoint a Conservator, Receiver or Liquidator of Insurance Companies(BSP Memoranda No. M-2021-068)
- Reminders on the Handling of Personally Identifiable Information (PII) and Other Sensitive Data(BSP Memoranda No. M-2024-019)
- Guidelines on the Electronic Submission of the Financial Reporting Package for Trust Institutions (FRPTI) in Relation to Recently Issued Regulation(BSP Memoranda No. M-2016-009)
- Transfer of shares(BSP Memoranda)
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.