Mahinog, Camiguin – The Bangko Sentral ng Pilipinas (BSP) has closed down the Camiguin Cooperative Rural Bank, Inc. (CCRBI) and placed the said financially troubled bank under the Philippine Deposit Insurance Corp.’s (PDIC) receivership.
In a letter sent to Mahinog Mayor Alex R. Jajalla, the PDIC through its First Vice President Elizabeth E. Oller informed the public that PDIC will conduct claims receiving operations to the depositors of the closed CCRBI.
“Our representatives will be at the premises of the said bank from December 9 to 15, 2009 during office hours to accept claims and entertain queries of depositors,” the PDIC vice president said in her letter.
The receivership status allows the PDIC to take over the bank’s assets to protect clients and return depositors’ money.
Oller also said that pursuant to Republic Act No. 9576, the last day of filing of claims for insured deposits in the closed CCRBI will be on December 5, 2011.
“After December 5, 2011, PDIC, as insurer, shall no longer accept any claim for insured deposits maintained with the said bank,” she said.