BSP Memoranda BSP Memoranda No. M-2010-010BSP Memoranda No. M-2010-010 2010-05-27T00:00:00.000+08:00
MB Resolution No. 708 dated 27 May 2010 - Placement of the Rural Bank of Ozamiz City, Inc. Under Receivership
MEMORANDUM NO. M-2010-010
To: All Banks and Non-Bank Financial Institutions
Subject: MB Resolution No. 708 dated 27 May 2010 - Placement of the Rural Bank of Ozamiz City, Inc. Under Receivership
Notice is hereby given that the Monetary Board, in its Resolution No.708 dated 27 May 2010 decided to prohibit the Rural Bank of Ozamiz City, Inc. from doing business in the Philippines and to place its assets and affairs under receivership pursuant to Section 30 of Republic Act 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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