MB Resolution No. 930.B dated 20 July 2023 Prohibition of the United Consumers Rural Bank, Inc. From Doing Business in the Philippines

* . .*~~ 14 . . BANGi<O SENTRAL NG PILIPINAS OFFICE OFTHE DEPUTY GOVERNOR I FINANCIAL SUPERVISION SECTOR CIRCULAR LETTER No. cL-2023- 040 To ALL BANKS AND NON-BANK FINANCIAL INSTITUTIONS Subject MB Resolution No. 930. B dated 20 July 2023 Prohibition of the United Consumers Rural Bank. Inc. From Doing Business in the Philippines Notice is hereby given that the Monetary Board, in its Resolution No. 930. B dated 20 July 2023, decided to prohibit the United Consumers Rural Bank, 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 CHI G. FONACIER eputy Governor 20 July 2023