MB Resolution No. 826.A dated 13 May 2016 - Placement of the Comsavings Bank with trade name "GSIS Family Bank (A Thrift Bank)" Under Receivership

BANGKo SerurnaL NG PILIPINAs OFFICE OF THE DEPUTY GOVERNOR SUPERVISION AND EXAMINATION SECTOR ctRculAR LETTER NO. Cr -20t6 - 036 To ALI BANKS AND NON-BANK FINANCIAL INSTITUTIONS Subject : MB Resolution No. 825.A dated 13 May 2016 Placement of the Comsavings Bank with trade name "GSIS Family Bank (A Thrift Bank)" Under Receivership Notice is hereby given that the Monetary Board, in its Resolution No. 826.A dated 13 May 2015, decided to prohibit the Comsavings Bank with trade name "Gsls Family Bank (A Thrift Bank)", from doing business in the philippines and to place its assets and affairs under receivership pursuant to Section 30 of Republic Act (R.A.) No. 7553 (The New Central Bank Act). The Philippine Deposit Insurance Corporation has been designated as Receiver of the aforementioned thrift bank. For information and guidance. [*'smr 13 May 2016 A. Mabini 5t., Malate 1004 Manila, Phiiippines o i63?i 708-7701 . www.[:sp.gov.ph . [email protected]