MB Resolution No. 1581 dated 6 November 2009 Placement of the Rural Bank of Libon (Albay), Inc. Under Receivership

November 6, 2009BSP MEMORANDUM NO. M-2009-042TO: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. STIHaEThe 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