November 6, 2009
BSP MEMORANDUM NO. M-2009-042
| TO | : | All Banks and Non-Bank Financial Institutions |
| SUBJECT | : | MB Resolution No. 1581 dated 6 November 2009 Placement of the Rural Bank of Libon (Albay), Inc. Under Receivership |
Notice is hereby given that the Monetary Board, in its Resolution No. 1581 dated 6 November 2009 decided to prohibit the RURAL BANK OF LIBON (ALBAY), INC. from doing business in the Philippines and to place its assets and affairs under receivership pursuant to Section 30 of R.A. No. 7653. STIHaE
The Philippine Deposit Insurance Corporation has been designated as Receiver of the aforementioned rural bank.
For information and guidance.
(SGD.) NESTOR A. ESPENILLA, JR.
Deputy Governor
