MB Resolution No. 72.B dated 20 January 2022 Prohibition of the Rural Bank of San Nicolas (Pangasinan), Inc., From Doing Business in the Philippines

BANGKO SENTRAL NG PILIPINAS CIRCULAR LETTER NO. CL-2O22-OO8 OFFICE OF TI{E DEPUW GOVERNOR FINANC1AL SUPERVISION SECTOR To : ALL BANKS AND NON-BANK FINANCIAI INSTITUTIONS Subject : MB Rcsolution No. Z2.B dated 2O Januaryz022 Prohibltlon of thc Rural Bank of San Nlcolas (Pangaslnanl, Inc,, From Dolng Buslne$ in the Phlllpplnee Notice is hereby given that the Monetary Board, in its Resof ution No. 72.8 dated 20 January 2022, decided to prohibit the Rural Bankof San Nlcolas (Pangasinanl,Inc., from doing business in the Philippines pursuant to Section 3O of Republic Act (R.A.) No.7653 Fhe 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 with Section 12 (a) of R.A No. 359I (PDIC Charter), as amended. For information and guidance. 20 January 20.22 ta ta a aaa