MB Resolution No. 1702 Dated 17 November 2011 Placement of the Rural Bank of Valencia (Negros Oriental), Inc. under Receivership
BSP Memorandum No. M-2011-057 • Bangko Sentral ng Pilipinas • Memoranda • Nov 17, 2011
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November 17, 2011 BSP MEMORANDUM NO. M-2011-057 TO : All Banks and Non-Bank Financial Institutions SUBJECT : MB Resolution No. 1702 Dated 17 November 2011 Placement of the Rural Bank of Valencia (Negros Oriental), Inc. under Receivership Notice is hereby given that the Monetary Board, in its Resolution No. 1702 dated 17 November 2011, decided to prohibit the Rural Bank of Valencia (Negros Oriental), 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). TcEaDS 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
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