MB Resolution No. 1285 dated 16 November 2007, Placement of the Rural Bank of Sta. Barbara (Pangasinan), Inc. Under Receivership
MEMORANDUM NO. M-2007-034
To: All Banks and Non-Bank Financial Institutions
Subject : MB Resolution No. 1285 dated 16 November 2007, Placement of the Rural Bank of Sta. Barbara (Pangasinan), Inc. Under Receivership
Notice is hereby given that the Monetary Board, in its Resolution No. 1285 dated 16 November decided to prohibit the RURAL BANK OF STA. BARBARA (Pangasinan), INC. from doing business in the Philippines and to place its assets and affairs under receivership pursuant to Section 30 of R. A. No. 7653.
The Philippine Deposit Insurance Corporation has been designated as Receiver of the aforementioned rural bank.
For information and guidance.
MA. DOLORES B. YUVIENCO Sector-in-Charge
More in BSP Memoranda
- MB Resolution No. 873 dated 17 June 2011 - Placement of the Mambajao Community Rural Bank, Inc. under Receivership(BSP Memoranda No. M-2011-034)
- To prohibit the Rural Bank of Maco (Compostela Valley), Inc. from doing business in the Philippines(BSP Memoranda)
- Transfer of BSP Kalibo Branch to its new location at Arnaldo Blvd., Baybay, Roxas City(BSP Memoranda No. M-2011-061)
- Amendments to Subsec. _405.6 Form and Composition of Reserves of the Rules and Regulations on Trust, Other Fiduciary Business and Investment Management Activities (Trust Rules)(BSP Memoranda)
- Peso Real Time Gross Settlement (RTGS) Rules(BSP Memoranda No. M-2022-049)
- MB Resolution No. 1170 dated 11 September 2008 - Placement of the New Rural Bank of Guimba (Nueva Ecija) , Inc. Under Receivership(BSP Memoranda No. M-2008-028)
- Templates revised to include the additional accounts on credit card receivables, trading account securities and available for sale securities(BSP Memoranda No. M10272003)
- Documentary Requirements and Procedures on the Use of Bank Asset (Real Property in the Name of the Bank) as Underlying Collateral fo Rediscounting(BSP Memoranda No. M-2020-064)
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.