MB Resolution No. 105 dated 30 January 2008; Placement of the Cooperative Rural Bank of Aklan Under Receivership
MEMORANDUM NO. M-2008-004
To: All Banks and Non-Bank Financial Institutions
Subject: MB Resolution No. 105 dated 30 January 2008; Placement of the Cooperative Rural Bank of Aklan Under Receivership
Notice is hereby given that the Monetary Board, in its Resolution No. 105 dated 30 January 2008 decided to prohibit the COOPERATIVE RURAL BANK OF AKLAN 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 cooperative rural bank.
For information and guidance.
NESTOR A. ESPENILLA, JR. Deputy Governor
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