MB Resolution No. 1313 dated 17 September 2009 - Philippine Farmers' Bank, Inc. (A Rural Bank) Placement Under Receivership
MEMORANDUM NO. M-2009-033
To: All Banks and Non-Bank Financial Institutions
Subject: MB Resolution No. 1313 dated 17 September 2009 - Philippine Farmers' Bank, Inc. (A Rural Bank) Placement Under Receivership
Notice is hereby given that the Monetary Board, in its Resolution No. 1313 dated 17 September 2009 decided to prohibit Philippine Farmers' Bank, Inc. (A Rural Bank) from doing business in the Philippines and to place its assets and affairs under receivership pursuant to Section30 of RA No. 7653 and Section 53 of R.A. No. 8791.
The Philippine Deposit Insurance Corporation has been designated Receiver of the aforementioned rural bank.
For information and guidance.
MA. DOLORES B. YUVIENCO Sector-in-Charge
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