MB Resolution No. 370.A dated 03 March 2016 Placement of the Rural Bank of Basay (Negros Oriental), Inc. Under Receivership

BANOKO SENTRAL NG PILIPINAS OFFICE OF THE DEPUW GOVERNOR SUPERVISION AND EXAMINATION SECTOR CIRCULAR LETTER NO. CL _2OL7 - 018 To ALL BANKS AND NON.BANK FINANEIAT INSTITUTIONS Subject : MB Resolution No. 42&.Adated 16 March 2017 Prohibition of the Rural Bank of Goa (Camarines Sur), Inc. From Doing Business in the Philippines Notice is hereby given that the Monetary Board, in its Resolution No. 428.A dated 16 March 2OL7, decided to prohibit the Rural Bank of Goa (Camarines Sur), Inc., from doing business in the Philippines 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 with a directive to proceed with the takeover and liquidation of the aforementioned rural bank in accordance with Section 12 (a) of R.A. No. 3591 (PDIC Charter), as amended. For information and guidance. I lJ-QJt l{esron R. e$erurue, Deputy Governor 16 March 2017 A. Mabini 5t., tt4alate 1004 Manija, Philippines . (632i ?08-77C1 . www.bsp.gov.ph ' [email protected]