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PHILIPPINE DEPOSIT INSURANCE CORPORATION
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BULLETIN   
BULLETIN NO. 2008-11
TO :All Member Banks
SUBJECT :Polillo Islands Rural Bank (Quezon), Inc.

Pursuant to Section 30 of Republic Act No. 7653 (New Central Bank Act), the Monetary Board of the Bangko Sentral ng Pilipinas issued Resolution No. 1169 dated September 11,2008 prohibiting POLILLO ISLANDS RURAL BANK (QUEZON), INC. (“Bank”) with office address at Poblacion, Polillo, Quezon from doing business in the Philippines and placing the same under receivership with the Philippine Deposit Insurance Corporation (PDIC) as the designated Receiver.

The PDIC took over POLILLO ISLANDS RURAL BANK (QUEZON), INC., its assets, records and affairs on September 15, 2008.

JOSE C. NOGRALES
President

September 17, 2008

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PDIC is a government instrumentality created in 1963
by virtue of Republic Act 3591, as amended, to insure
the deposits of all banks. PDIC exists to protect
depositors by providing deposit insurance coverage for the depositing public and help promote financial stability. PDIC is an attached agency of the Bangko Sentral ng Pilipinas.
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Hotline: (632) 8841-4141
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Email: pad@pdic.gov.ph
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