MB Resolution No. 98 dated 26 January 2006 Placing the Merchant Rural Bank of Talavera, Inc. Under Receivership
MEMORANDUM Series of 2006
TO : All Banks and Non-Bank Financial Institutions Subject : MB Resolution No. 98 dated 26 January 2006 Placing the Merchant Rural Bank of Talavera, Inc. Under Receivership
Notice is hereby given that the Monetary Board, in its Resolution No. 98 dated 26 January 2006, decided to prohibit the Merchant Rural Bank of Talavera (Nueva Ecija), Inc. from doing business in the Philippines and to place its assets and affairs under receivership pursuant to Section 53 of R.A. No. 8791 and 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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