BSP Memoranda BSP Memoranda No. M-2006-012BSP Memoranda No. M-2006-012 2006-07-31T00:00:00.000+08:00

MB Resolution No. 950 dated 27 July - 2006 Placement of the First Coconut Rural Bank (Batangas City), Inc. Under Receivership

MEMORANDUM NO. M - 2006 -012

To : All Banks

Subject : MB Resolution No. 950 dated 27 July - 2006 Placement of the First Coconut Rural Bank (Batangas City), Inc. Under Receivership

Notice is hereby given that the Monetary Board, in its Resolution No. 950 dated 27 July 2006, decided to prohibit the FIRST COCONUT RURAL BANK (BATANGAS CITY), 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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