MB Resolution No. 710 ated 14 May 2009 - Placement of the Rural Bank of Sapang Dalaga (Misamis Occidental), Inc. Under Receivership
MEMORANDUM NO. M-2009-014
To: All Banks and Non-Bank Financial Institutions
Subject: MB Resolution No. 710 dated 14 May 2009 - Placement of the Rural Bank of Sapang Dalaga (Misamis Occidental), Inc. Under Receivership
Notice is hereby given that the Monetary Board, in its Resolution No. 710 dated 14 May 2009 decided to prohibit the Rural Bank of Sapang Dalaga (Misamis Occidental), 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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