MB Resolution No. 708 dated 27 May 2010 - Placement of the Rural Bank of Ozamiz City, Inc. Under Receivership
MEMORANDUM NO. M-2010-010
To: All Banks and Non-Bank Financial Institutions
Subject: MB Resolution No. 708 dated 27 May 2010 - Placement of the Rural Bank of Ozamiz City, Inc. Under Receivership
Notice is hereby given that the Monetary Board, in its Resolution No.708 dated 27 May 2010 decided to prohibit the Rural Bank of Ozamiz City, Inc. from doing business in the Philippines and to place its assets and affairs under receivership pursuant to Section 30 of Republic Act No. 7653.
The Philippine Deposit Insurance Corporation has been designated as Receiver of the aforementioned rural bank.
For information and guidance.
NESTOR A. ESPENILLA, JR. Deputy Governor
More in BSP Memoranda
- MB Resolution No. 1057 dated 20 September 2007, Revocation of License of TEAMSLAI(BSP Memoranda No. M-2007-035)
- Collection of the Annual Supervisory Fees (ASF) for the Year 2019(BSP Memoranda No. M-2019-009)
- Regulatory Relief Measures in Relation to the Declaration of a State of National Energy Emergency(BSP Memoranda No. M-2026-014)
- Prioritization of the Philippine Identification (PhilID) and Other Recognized Formats in the List of Acceptable Identification Documents (ID)(BSP Memoranda No. M-2024-006)
- Live Implementation of the Enhanced Comprehensive Credit and Equity Exposures Report of 2023 (COCREE 2.0)(BSP Memoranda No. M-2025-035)
- Extension of the Deadline for Filing Audited Financial Statements(BSP Memoranda No. M-2006-003)
- Invitation to comment on the exposure draft of Basel 2 Implementing Guidelines for the Philippines(BSP Memoranda)
- Collection of the Annual Supervision Fees (ASF) for the Year 2024(BSP Memoranda No. M-2024-011)
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.