BSP Memoranda BSP Memoranda No. M02272006BSP Memoranda No. M02272006 2006-02-27T00:00:00.000+08:00
MB Resolution No. 237 dated 23 February 2006 Placing The Center Rural Bank, Inc. Under Receivership
MEMORANDUM Series of 2006
TO : All Banks and Non-Bank Financial Institutions Subject : MB Resolution No. 237 dated 23 February 2006 Placing The Center Rural Bank, Inc. Under Receivership
Notice is hereby given that the Monetary Board, in its Resolution No. 237 dated 23 February 2006, decided to prohibit The Center Rural Bank, Inc. from doing business in the Philippines and to place its assets and affairs under receivership pursuant to 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
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