BULLETIN | ||||||
BULLETIN NO. 2012-12 | ||||||
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Pursuant to Section 30 of Republic Act No. 7653, (New Central Bank Act), the Monetary Board of the Bangko Sentral ng Pilipinas decided in its Resolution No. 870. A dated May 31, 2012 to prohibit RURAL BANK OF BANAYOYO (ILOCOS SUR), INC. (“Bank”) with Office address at Poblacion, Banayoyo, Ilocos Sur from doing business in the Philippines and to place the Bank under receivership with the Philippine Deposit Insurance Corporation (PDIC) as the designated Receiver. The PDIC took over the Bank and its assets, records and affairs on June 1, 2012. Please be advised that upon takeover of the Bank by PDIC as Receiver, all officers and employees of the Bank cease to have any authority to act for and in behalf of the Bank in whatever capacity.
June 1, 2012 | ||||||
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