MB Resolution No. 1101 dated 29 August 2008 - Placement of the Rural Bank of Lambayong (Sultan Kudarat), Inc. Under Receivership
MEMORANDUM NO. M-2008-026
To: All Banks and Non-Bank Financial Institutions
Subject: MB Resolution No. 1101 dated 29 August 2008 - Placement of the Rural Bank of Lambayong (Sultan Kudarat), Inc. Under Receivership
Notice is hereby given, that the Monetary Board, in its Resolution No. 1101 dated 29 August 2008 decided to prohibit the Rural Bank og Lambayong (Sultan Kudarat), Inc. 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 rural bank.
For information and guidance.
NESTOR A. ESPENILLA, JR. Deputy Governor
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