MB Resolution No. 1331.B dated 16 August 2018 Prohibition of the Malasiqui Progressive Savings and Loan Bank, Inc. from Doing Business in the Philippines

BANOKO SENTRAL NG PILIPINAS OFFICE OF THE DEPUW GOVERNOR FI NANCIAL SUPERVISION SECTOR CIRCULAR LETTER NO. CL - 2018 - 061 To ALL BANKS AND NON.BANK FINANCIAL INSTITUTIONS Subject : MB Resolution No. 1331.8 dated 16 August 2018 Prohibition of the Malasiqui Progressive Savings and Loan Bank, Inc. From Doing Business in the Philippines Notice is hereby given that the Monetary Board, in its Resolution No. 1331.8 dated 16 August 2018, decided to prohibit the Malasiqui Progressive Savings and Loan Bank, Inc., from doing business in the Philippines pursuant to Section 30 of Republic Act (R.A.) No. 7553 (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 thrift bank in accordance with Section 12 (a) of R.R. No. 3591 (PDIC Charter), as amended. For information and guidance. I G. FONACIER 16 August 2018 A.'Mabini 5t., Malate 1004Manila, Pilil'ppines r {632i 708-7701 . www.bsp.g,ov.ph . [email protected]