MB Resolution No. 284.A dated 23 February 2017 - Prohibition of the Rural Bank of Barotac Viejo (Iloilo), Inc. From Doing Business in the Philippines

-1)' BANEKO SENTRAL NG PILIPINAS OFFICE OF THE DEPUW GOVERNOR SUPERVISION AND EXAMINATION SECTOR CIRCULAR LETTER NO. CL _20L7 - O}} To AtL BANKS AND NON-BANK FINANCIAL INSTITUTIONS Subject : MB Resolution No. 284.A dated 23 February 2017 Prohibition of the Rural Bank of Barotac Viejo (lloilo), Inc. From Doing Business in the Philippines Notice is hereby given that the Monetary Board, in its Resolution No. 284.A dated 23 February 2OL7, decided to prohibit the Rural Bank of Barotac Vieio (lloilol, Inc., from doing business in the Philippines pursuant to Section 30 of Republic Act (R.A.) No. 7653 (The New Central Bank Act). 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 (PDIC Charter), as amended. For information and guidance. k^H Deputy Governo 23 February 2OL7 A. Mabini St., Malate :t004 Manila, philippines r (632) 708-7701 . www.bsp.gov.ph . [email protected]