MB Resolution No. 12 dated 5 January 2006 Placing the Rural Bank of Zamboanguita (Negros Oriental), Inc. Under Receivership
MEMORANDUM Series of 2006
TO : All Banks and Non-Bank Financial Institutions Subject : MB Resolution No. 12 dated 5 January 2006 Placing the Rural Bank of Zamboanguita (Negros Oriental), Inc. Under Receivership
Notice is hereby given that the Monetary Board, in its Resolution No. 12 dated 05 January 2006, decided to prohibit the RURAL BANK OF ZAMBOANGUITA (NEGROS ORIENTAL), INC. from doing business in the Philippines and to place its assets and affairs under receivership pursuant to Section 53 of R.A. No. 8791 and 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
More in BSP Memoranda
- 24 June 2005 considered as a regular reserve day(BSP Memoranda)
- Advisory on Organization Changes in the Payments and Currency Management Operations Sub-sector(BSP Memoranda No. M-2021-006)
- Revised Timeline for the Adoption of the Supervisory Assessment Framework(BSP Memoranda No. M-2020-054)
- Required reserves against peso-denominated common trust funds (CTFs) and other similarly managed peso funds of all financial intermediaries authorized to engage in trust and other fiduciary business(BSP Memoranda No. M07221995)
- Authority to Open/Extend Banking Operations(BSP Memoranda No. M-2013-012)
- Application Programming Interface (API) Security Control Recommendations(BSP Memoranda No. M-2022-016)
- MB Resolution No. 946 dated 24 August 2007 Placement of the Sandigan Savings Bank, Inc. Under Receivership(BSP Memoranda No. M-2007-024)
- Response Plan to Coronavirus Disease 2019 (COVID-l9) Epidemic(BSP Memoranda No. M-2020-006)
Want an analysis of this document?
Ask ASG Legal AI to summarize it, compare it with other rulings, or explain how it applies to your situation — it researches from this same library.