MB Resolution No. 1285 dated 16 November 2007, Placement of the Rural Bank of Sta. Barbara (Pangasinan), Inc. Under Receivership
MEMORANDUM NO. M-2007-034
To: All Banks and Non-Bank Financial Institutions
Subject : MB Resolution No. 1285 dated 16 November 2007, Placement of the Rural Bank of Sta. Barbara (Pangasinan), Inc. Under Receivership
Notice is hereby given that the Monetary Board, in its Resolution No. 1285 dated 16 November decided to prohibit the RURAL BANK OF STA. BARBARA (Pangasinan), 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.
MA. DOLORES B. YUVIENCO Sector-in-Charge
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