November 15, 2016

All creditors of the closed Rural Bank of Luna (Isabela), Inc. have until December 12, 2016 to file their claims against the assets of the closed bank either personally or by mail. Creditors refer to any individual or entity with a valid claim against the assets of the closed Rural Bank of Luna and include depositors whose deposits exceed the maximum deposit insurance coverage (MDIC) of PHP500,000.

The Philippine Deposit Insurance Corporation (PDIC) said that creditors and depositors with uninsured deposits may file their claims personally at the PDIC Receivership and Bank Management Department IV, 5th Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino St., Makati City. Meanwhile, all claims filed by mail must be addressed to Mr. Edzel D. Aurelia, Deputy Receiver, and sent to the same address. A sample Claim Form against the assets of the closed bank may be downloaded from the PDIC website, www.pdic.gov.ph.

As statutory Receiver, the PDIC is mandated to disallow claims filed after said date. Creditors' recourse is to file their claims with the Liquidation Court within 60 days from receipt of the final notice of denial of claim. PDIC also clarified that depositors who filed their deposit insurance claims on or at any time prior to December 12, 2016 are deemed to have filed their claims against the closed bank's assets.

RB Luna was ordered closed by the Monetary Board of the Bangko Sentral ng Pilipinas on October 6, 2016.

For more information, creditors and depositors with uninsured deposits are advised to directly address their inquiries and communications to the Receivership and Bank Management Department IV at telephone number (02) 841-4986 or via e-mail at edaurelia@pdic.gov.ph.

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The Philippine Deposit Insurance Corporation (PDIC) was established on June 22, 1963 by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is P500,000 per depositor. All deposit accounts by a depositor in a closed bank maintained in the same right and capacity shall be added together. A joint account shall be insured separately from any individually-owned deposit account.

PDIC news/press releases and other information are available at the website, www.pdic.gov.ph.