MB Resolution No. 867 dated 2 August 2007 (Placement of the Rural Bank of San Fernando (Romblon), Inc. Under Receivership)
MEMORANDUM NO. M-2007-020
To: All Banks and Non-Bank Financial Institutions
Subject: MB Resolution No. 867 dated 2 August 2007 Placement of the Rural Bank of San Fernando (Romblon), Inc. Under Receivership
Notice is hereby given that the Monetary Board in its Resolution No. 867 dated 2 August 2007, decided to prohibit the RURAL BANK OF SAN FERNANDO (ROMBLON), INC. 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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