MB Resolution No. 170.A dated 09 February 2023 Prohibition of the Rural Bank of San Marcelino, Inc. From Doing Business in the Philippines

" I\ ,.. BANGl<O SENTRAL NG PILIP! NAS OFFICE OF THE DEPUTY GOVERNOR I FINANCIAL SUPERVISION SECTOR CIRCULAR LETTER No. cL-2023-010 To ALL BANKS AND NON-BANK FINANCIAL INSTITUTIONS , Subject MB Resolution No. 170. A dated 09 February 2023 Prohibition of the Rural Bank of Sari Marcelino, Inc. From Doing Business in the Philippines Notice is hereby given that the Monetary Board. in its Resolution No. 170, A dated 09 February 2023. decided to prohibit the Rural Bank of Sari Marcelino, Inc. , from doing business in the Philippines pursuant to Section 30 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 R. A. No. 3591 (PD!C Charter), as amended. For information and guidance. C CHI G. FONACIER eputy Governor 09 February 2023