MB Resolution No. 1412 dated 22 September 2011: Placement of the Rural Bank of Mawab (Davao), Inc. under Receivership

BANGKo SerurnaL Ne plrlprrues OFFICE OF THE DEPUTY GOVERNOR SUPERVISION AND EXAMINATION SECTOR MEMORANDUM NO. M-2011 - 053 To Att BANKS AND NON-BANK FINANCIAL INSTITUTIONS Subject : MB Resolution No. 14tZ dated 22 September 2011 Placement of the Rurat Bank of Mawab (Davao), Inc. under Receivership Notice is hereby given that the Monetary Board, in its Resolution No. 1412 dated 22 september Zo!L, decided to prohibit the Rural Bank of Mawab (Davao|, Inc" from doing business in the Philippines and to place its assets and affairs under receivership pursuant to section 30 of Republic Act (R.A.) No. 7G53 (The New central Bank Act). The Philippine Deposit Insurance corporation has been designated as Receiver of the aforementioned rural bank. For information and guidance. ff*"p# ,Y 22 September ZOLL ".;i.i.1 ;,r1,.: | ;:;. i:h ii ii:i: inr.:s