BSP Circular Letters BSP Circular LetterBSP Circular Letter 2005-02-03T00:00:00.000+08:00
To prohibit HERMOSA SAVINGS AND LOAN BANK, INC. from doing business in the Philippines
CIRCULAR LETTER Series of 2005
TO: All Banks
The Monetary Board, in its Resolution No. 158 dated 03 February 2005, decided to prohibit HERMOSA SAVINGS AND LOAN BANK, INC. from doing business in the Philippines and to place its assets and affairs under receivership in accordance with Section 30 of Republic Act No. 7653.
The Philippine Deposit insurance Corporation has been designated as Receiver of the bank.
ALBERTO V. REYES Deputy Governor
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