MB Resolution No. 724.B dated 16 May 2019 Prohibition of the Rural Bank of Basey (Samar), Inc. From Doing Business in the Philippines

BaruExo SErurnIL NG PILIPINAS OFFICE OF THE DEPUTY GOVERNOR FINANCIAT SUPERVISION SECTOR CIRCULAR LETTER NO. CL _ 2OT9 - 036 To ALL BANKS AND NON-BANK FINANCIAL INSTITUTIONS Subject : MB Resolution No. 724.8 dated 16 May 2019 Prohibition of the Rural Bank of Basey (Samar), lnc. From Doing Business in the Philippines Notice is hereby given that the Monetary Board, in its Resolution No. 724.8 dated 16 May 20L9, decided to prohibit the Rural Bank of Basey (Samar|, 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 L2 (al of R.A. No. 3591 (PDIC Charter), as amended. For information and guidance. I G. FONACIER 15 May 2019 ttS:4 '', ct - 't ,i,