November 29, 2012
BSP MEMORANDUM NO. M-2012-056
| TO | : | All Banks and Non-Bank Financial Institutions |
| SUBJECT | : | MB Resolution No. 1969 Dated 29 November 2012 Placement of the Rural Bank of Dasmariñas, Inc. Under Receivership |
Notice is hereby given that the Monetary Board, in its Resolution No. 1969 dated 29 November 2012, decided to prohibit the Rural Bank of Dasmariñas, Inc. from doing business in the Philippines and to place its assets and affairs under receivership pursuant to Section 30 of Republic Act (R.A.) No. 7653 (The New Central Bank Act).
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
