Regulatory Alerts2024-01-19
MB Resolution No. 49.A dated 11 January 2024 – Approval of Voluntary Surrender of Banking License of the Rural Bank of Pana-on (Misamis Occidental), Inc.
The Bangko Sentral ng Pilipinas issued Circular Letter No. CL-2024-__ to inform all banks and non-bank financial institutions of the Monetary Board's approval of the Rural Bank of Pana-on (Misamis Occidental), Inc.'s voluntary surrender of its banking license. This action was formalized through MB Resolution No. 49.A dated 11 January 2024, marking the end of the institution's regulatory authorization. The circular serves as official guidance regarding this specific license surrender event.
OFFICE OF THE DEPUTY GOVERNOR I FINANCIAL SUPERVISION SECTOR CIRCULAR LETTER NO. CL-2024-__ To : ALL BANKS AND NON-BANK FINANCIAL INSTITUTIONS
Subject : MB Resolution No. 49.A dated 11 January 2024 – Approval of Voluntary Surrender of Banking License of the Rural Bank of Pana-on (Misamis Occidental), Inc. The Monetary Board, in its Resolution No. 49.A dated 11 January 2024, approved the voluntary surrender by Rural Bank of Pana-on (Misamis Occidental), Inc. of its banking license to the Bangko Sentral ng Pilipinas. For information and guidance. CHUCHI G. FONACIER Deputy Governor 19 January 2024