BSP Circular Letters BSP Circular LetterBSP Circular Letter 2003-10-20T00:00:00.000+08:00
To prohibit Cooperative Bank of Davao Oriental from doing business in the Philippines and to place its assets and affairs under receivership
CIRCULAR LETTER Series of 2003
TO : All Banks
Notice is hereby given that the Monetary Board, in its Resolution No. 1534 dated October 16, 2003, approved and confirmed to prohibit COOPERATIVE BANK OF DAVAO ORIENTAL from doing business in the Philippines and to place its assets and affairs under receivership in accordance with Section 30 of R.A. No. 7653.
The Philippine Deposit Insurance Corporation has been designated as Receiver of the aforementioned cooperative bank.
For information and guidance.
ALBERTO V. REYES Deputy Governor
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