MB Resolution No. 157 dated 7 February 2008; Placement of the Bankwise, Inc. (A Thrift Bank)Under Receivership
MEMORANDUM NO. M-2008-006
To: All Banks and Non-Bank Financial Institutions
Subject: MB Resolution No. 157 dated 7 February 2008; Placement of the Bankwise, Inc. (A Thrift Bank)Under Receivership
Notice is hereby given that the Monetary Board, in its Resolution No. 157 dated 7 February 2008 decided to prohibit the BANKWISE, INC. (A THRIFT BANK) 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 thrift bank.
For information and guidance.
NESTOR A. ESPENILLA, JR. Deputy Governor
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