MB Resolution No. 434.E dated 31 March 2022 Prohibition of the Metro-Cebu Public Savings Bank, From Doing Business in the Philippines

BANGKO SENTRAL NG PILIPINAS CIRCULAR LETTEFI NO. CL-2O22-ffi OFFICE OF THE DEPUW GOVERNOR FINANCIAL SUPERVISION SECTOR To : ALL BANKS AND NON-BANK FINANCIAL INSTITUTIONS Subject : MB Resolution No. h&.Edated 3l March 2o.22 Prohibition of the Metro-Cebu Public Savings Bank, From Doing Business in the Phllippines Notice is hereby given that the Monetary Board, in its Resof ution No. 434.E dated 3l March 2022, decided to prohibit the Metro-Cebu Public Savings Bank, from doing business in the Philippines pursuant to Section 30 of Republic Act (R.A.) No.7653 fthe 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 thrift bank in accordancewith Section t2 (a) of R.A. No.359l (PDIC Charter), as amended. For information and guidance. G. FONACIER 3l March 2o.22 .a t t' t a