BSP Circular Letters BSP Circular LetterBSP Circular Letter 2004-09-10T00:00:00.000+08:00
To prohibit FIRST SAVINGS BANK from doing business in the Philippines
R
ManILa
DFFICE OF THE De Puty governor
SUPERVISiON AND EXAMINAtiCN SECtOr
CIRCULAR LETTEF
TO: ALL BANKS
8 September 2004, approved and co firmed to prohibit FIRST SAVINGS BANK from doing=business in the Philippines and to place its assets ind affairs under receivership, in accordance with Section 3 of R.A. No. 7653 (The General Banking Law of 2000). (The New Centrai Bank Act) and Secti_i 53 of R.A. 8791 The Monetary Board, in its Resoiluton No. 1265 dated
been designated as Receiver of the a-nrementioned thrift bank. The Philippine Deposit Insuranc- Corporation has
ALBE TOV Der ty G&vernor IL/REYES
September 2004
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