MB Resolution No. 1705.D dated 07 November 2019 Prohibition of the AMA Rural Bank of Mandaluyong, Inc. From Doing Business in the Philippines

BANGKO SENTRAL NG PILIPINAS OFFICE OF THE DEPUTY GOVERNOR FI NANCIAL SUPERVISION SECTOR CIRCULAR LETTER NO. CL _20T9 - 082 To ALL BANKS AND NON-BANK FINANCIAL INSTITUTIONS Subject : MB Resolution No. 1705.D dated 07 November 2019 Prohibition of the AMA Rural Bank of Mandaluyong, Inc. From Doing Business in the Philippines Notice is hereby given that the Monetary Board, in its Resolution No. 1705.D dated 07 November 20L9, decided to prohibit the AMA Rural Bank of Mandaluyoht, Inc., 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 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. G. FONACIER 07 November 2019