MB Resolution No. 448 dated 17 April 2008 - Placement of the People’s Rural Bank of Binmaley (Pangasinan), Inc. Under Receivership
MEMORANDUM NO. M-2008-018
To : ALL BANKS AND NON-BANK FINANCIAL INSTITUTIONS
Subject : MB Resolution No. 448 dated 17 April 2008 - Placement of the People’s Rural Bank of Binmaley (Pangasinan), Inc. Under Receivership
Notice is hereby given that the Monetary Board, in its Resolution No. 448 dated 17 April 2008 decided to prohibit the PEOPLE’S RURAL BANK OF BINMALEY (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.
NESTOR A. ESPENILLA, JR. Deputy Governor
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