MB Resolution No. 1194.A dated 26 July 2018 Prohibition of the Bangko Buena Consolidated, Inc. (A Rural Bank) From Doing Business in the Philippines

EIANEKO SENTNIL NE PILIPINAS OFFICE OF THE DEPUTY GOVERNOR . FINANCIAL SUPERVISION SECTOR CIRCULAR LETTER NO. CL _ 2018 - 056 To ALt BANKS AND NON.BANK FINANCIAL INSTITUTIONS Subject : MB Resolution No. 1194.A dated 26 July 2018 Prohibition of the Bangko Buena Consolidated,lnc. (A RuralBankl From Doing Business in the Philippines Notice is hereby given that the Monetary Board, in its Resolution No. 1194.4 dated 26 July 2018, decided to prohibit the Bangko Buena Consolidated, Inc. (A Rural Bank), from doing business in the Philippines pursuant to Section 30 of Republic Act (R.A.) No. 7653 (The New Central Bank Act). 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 12 (a) of R.A. No. 3591 (PDIC Charter), as amended For information and guidance. HIG. FONACIER leputy Governor 26 July 2018 A. t\4ab'ni St.. llalate :10C14 Maniia, Philipsines . (6:?i 708-7701 . www.hsc.gcv.ph . [email protected],J.ph