MB Resolution No. 640.A dated 12 May 2022 Prohibition of the Farmers Savings and Loan Bank, Inc. From Doing Business in the Philippines

BANGKO SENTRAL NG PILIPINAS OFFICE OF THE DEPUW GOVERNOR I FINANCIAL SUPERVISION SECTOR clRcuLAR LETTER NO. CL-2O22-9tr15 To Att BANKSAND NON.BANK FINANCIAL INSTITUTIONS Subject MB Resofution No. 640.A dated 12 May 2o.22 Prohibition of the Farmers Savings and Loan Bank,Inc. From Doing Business in the Philippines Notice is hereby given that the Monetary Board, in its Resolution No. 640.A dated 12 May 2022, decided to prohibit the Farmers Savings and Loan Bank, lnc., 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 Fleceiver with a directive to proceed with the takeover and liquidation of the aforementioned thrift bank in accordance with Section 12 (a) of R.A. No. 3591 (PDIC Charter), as amended. For information and guidance. G. FONACIER 12May20.22