MB Resolution No. 783.A dated 24 June 2021 Prohibition of the Rural Bank of Caloocan, Inc. From Doing Business in the Philippines

BA BANGKO SENTRAL NG PILIPINAS OFFICE OF THE DEPUTY GOVERNOR FINANCIAL SUPERVISION SECTOR CIRCULAR LETTER NO. CL -2021- 049 To: ALL BANKS AND NON-BANK FINANCIAL INSTITUTIONS Subject MB Resolution No. 783.A dated 24June 2021 Prohibition of the Rural Bank of Caloocan, Inc. From Doing Business in the Philippines Notice is hereby given that the Monetary Board, in its Resolution No. 783.A dated 24 June 2021, decided to prohibit the Rural Bank of Caloocan, Inc., from doing business in the Philippines pursuant to Section 30 of Republic Act (R.A.) No. 7653 (The New Central Bank Act) as amended. 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 withn Section 12 (a) of RA. No. 3591 (PDIC Charter)., as amended. For information and guidance. CHpCHI G. FONACIER peputy Governor 24 June 2021