BSP Circular Letters BSP Circular LetterBSP Circular Letter 2005-02-03T00:00:00.000+08:00

To prohibit HERMOSA SAVINGS AND LOAN BANK, INC. from doing business in the Philippines

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SUPERVISION AND EXAMINATION SECTOR OFFICE OF THE DEPUTY GOVERNOR

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TO: AlL BanKS

decided to prohibit HERMOSA SAV\NGS AND LOAN BANK, INC. from doing business in the Philippines and to piace its assets and affairs under receivership in accordance with Section 30 of Republic Act No. 7653. The Monetary Board, in its Resolution No. 158 dated 03 February 2o05.

The Philippine Deposit Insurance Corporation has been designated as Receiver of the bank.

ALBERTO V. REYES

Deputy Governor

-3 February 2005

MAG-IMPOK SA BANGKO

MAYNILA, PILIPINAS 1004 . Tel No. 524-70-11 trunkline - URL: www.bsp.gov.ph - e-mail: [email protected]

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