MB Resolution No. 1312.B dated 08 September 2022 Prohibition of the Rural Bank of Galimuyod (Ilocos Sur), Inc. from Doing Business in the Philippines

~ ,~ ,.. BANGKO SENTRAL NG PILIPINAS OFFICE OF THE DEPUTY GOVERNOR I FINANCIAL SUPERVISION SECTOR CIRCULAR LETTER No. CL-2022-o69 To ALL BANKS AND NON-BANK FINANCIAL INSTITUTIONS . Subject MB Resolution No. 13/2. B dated 08 September 2022 Prohibition of the Rural Bank of Galimuyod (110cos Sur), Inc. From Doing Business in the Philippines Notice is hereby given that the Monetary Board, in its Resolution No. 13/2, B dated 08 September 2022. decided to prohibit the Rural Bank of Galimuyod 1110cos Sun, Inc. , from doing business in the Philippines pursuant to Section 30 of Republic Act (R. A. ) No. 7653 (The 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. 3591 (PDIC Charter), as amended. For information and guidance. C HI G. FONACIER eputy Governor 08 September 2022 *