MB Resolution No. 1316 dated 28 July 2016 Prohibition of the Rural Bank of Alabat (Quezon), Inc. From Doing Business in the Philippines

BANGKO SENTRAL NG' PILIPINAS OFFICE OF THE DEPUW GOVERNOR SUPERVISION AND EXAMI NATION SECTOR CIRCULAR LETTER NO. CL -2OL6 - 064 To ALt BANKS AND NON-BANK FINANCIAL INSTITUTIONS Subject : MB Resolution No. 1316 dated 28 July 2015 Prohibition of the Rural Bank of Alabat (Quezon), lnc. From Doing Business in the Philippines Notice is hereby given that the Monetary Board, in its Resolution No. 1315 dated 28 July 2016, decided to prohibit the Rural Bank of Alabat (Quezon), Inc., from doing business in the Philippines pursuant to Section 30 of Republic Aa (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. h6'*n.ffiri 28 July 2015 A. tJabini st., Malate 1004 Manila, Philippines . t632i 708-7701.. www.bsp.gov.ph r [email protected]