MB Resolution No. 756.A dated 14 May 2015 - Placement of the Rural Bank of Sta. Magdalena (Sorsogon), Inc. Under Receivership

BANEKo Serurnel. NG PILIPINAS OFFICE OF THE DEPUW GOVERNOR SUPERVISION AND EXAMINATION SECTOR clRcutAR TETTER NO. CL - 2015 - 031 To ALL BANKS AND NON.BANK FINANCIAT INSTITUTTONS Subject : MB Resolution No. 756.A dated 14 May 2015 Placement of the Rural Bank of Sta. Magdalena (Sorsogon), Inc. Under Receivership Notice is hereby given that the Monetary Board, in its Resolution No. 756.A dated 14 May 2OL5, decided to prohibit the Rural Bank of Sta. Magdalena (Sorsogon), Inc., from doing business in the Philippines and to place its assets and affairs under receivership pursuant to Section 30 of Republic Act (R.A.) No. 7653 (The New Central Bank Act). The Philippine Deposit lnsurance Corporation has been designated as Receiver of the aforementioned rural bank. For information and guidance. h*,T*frdil- 14 May 2015 A. Mabini St., Maiate 1004 Manila, Philippines " (637\7O8-77OL u www.bsp.gov.ph ' [email protected],ph