MB Resolution No. 1288.A dated 10 August 2018 Prohibition of the Rural Bank of Pagbilao, Inc. from Doing Business in the Philippines

E]ANOKO SENTRAL NE PILIPINAS OFFICE OF THE DEPUTY GOVERNOR FINANCIAT SUPERVISION SECTOR CIRCULAR LETTER NO. CL - 2018 - O5O To ALL BANKS AND NON-BANK FINANCIAL INSTITUTIONS Subject : MB Resolution No. 1288.A dated 10 August 2018 Prohibition of the Rural Bank of Pagbilao, lnc. From Doing Business in the Philippines Notice is hereby given that the Monetary Board, in its Resolution No. 1288.A dated 10 August 2018, decided to prohibit the Rural Bank of Pagbilao, !nc., 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. 359L (PDIC Charter), as amended. For information and guidance. G. FONACIER 10 August 2018 A. N4abini 51., Malate 10C4 Manija, philippines r (63?i 708,7701 r www.hsp.gc;v.ph r [email protected]