MB Resolution No. 1492.A dated 04 November 2021 Prohibition of the United Peoples Rural Bank, Inc. From Doing Business in the Philippines

BANGKO SENTRAL NG PILIPINAS CIRCULAR LETTEFI NO. CL.2O21-O84 OFFICE OF THE DEPUW GOVERNOR FINANCIAL SUPERVISION SECTOR To : ALL BANKS AND NON-BANK FINANCIAL INSTITUTIONS Subject : MB Resolution No. l$gzAdated O4 November 2OA Prohibition of the Unlted Peoples Rural Banlc |rc. From Ddry Business in the Philipplnes Notice is hereby given that the Monetary Board, in its Resolution No. 1492.A dated 04 November 20.21, decided to prohibit the United Peoples Rural Banlg Inc., from doing business in the Philippines pursuant to Section 50 of Republic Act (R.A) No. 7653 (The New Central Bank Act), as amended. The Philippine Deposit Insurance Corporation has been designated as Receiver with a directive to proceed with the takeover and liquidation of the aforementioned rural bank in accordance with Section 12 (a) of RA. No.359l (PDIC Charter), as amended. For information and guidance. O4 November?O?l a_ ta t- a . . a a ' '- a