MB Resolution No. 1102 dated 29 August 2008 - Placement of the Rural Bank of Bamban (Tarlac), Inc. Under Receivership
MEMORANDUM NO. M-2008-027
To: All Banks and Non-Bank Financial Institutions
Subject: MB Resolution No. 1102 dated 29 August 2008 - Placement of the Rural Bank of Bamban (Tarlac), Inc. Under Receivership
Notice is hereby given, that the Monetary Board, in its Resolution No. 1102 dated 29 August 2008 decided to prohibit the Rural Bank of Bamban (Tarlac), 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.
NESTOR A. ESPENILLA, JR. Deputy Governor
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