MB Resolution No. 361 dated 6 March 2009 Placement of the Cooperative Bank of Zamboanga del Sur Under Receivership
MEMORANDUM NO. M-2009-006
To: ALL BANKS AND NON-BANK FINANCIAL INSTITUTIONS
Subject: MB Resolution No. 361 dated 6 March 2009 Placement of the Cooperative Bank of Zamboanga del Sur Under Receivership
Notice is hereby given that the Monetary Board, in its Resolution No. 361 dated 6 March 2009, decided to prohibit the COOPERATIVE BANK OF ZAMBOANGA DEL SUR 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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