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Monetary Board shuts down Rural Bank of Larena
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THE OFFICIAL E-NEWSLETTER OF THE PHILIPPINE INFORMATION AGENCY - SIQUIJOR | WWW.PIA.GOV.PH and the DEPARTMENT OF SCIENCE AND TECHNOLOGY - SIQUIJOR | WWW.DOST.GOV.PH VOL. 07| No. 35 October 10 - 17, 2019
PNP close to attaining ‘effective, credible police service’
The closed Rural Bank of Larena (Siquijor), Inc. located on Bonifacio St., Brgy. North Poblacion, Larena, Siquijor. (PDIC photo) SIQUIJOR, Oct. 11 (PIA) -- The Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) prohibited Rural Bank of Larena (Siquijor), Inc. from doing business in the Philippines through MB Resolution No. 1570.A dated Oct. 10, 2019, according to a press release from the Philippine Deposit Insurance Corporation (PDIC). The MB Resolution also directed the PDIC to proceed with the takeover and liquidation of Rural Bank of Larena. In an interview with PDIC Corporate Executive Officer I Nathanael Tumbokon, he said the order to close the bank was issued on Oct. 10 and implementation was made the day after, Oct. 11, with the PDIC already taking over. Rural Bank of Larena is a singleunit rural bank located on Bonifacio St., Brgy. North Poblacion, Larena, Siquijor. Latest available records show that as of June 30, 2019, Rural Bank of Larena has 482 deposit accounts with total deposit liabilities of P12.9 million, of which 96.25 percent or P12.4 million are insured deposits, the PDIC release said. PDIC assured depositors that all valid deposits and claims shall be paid up to the maximum deposit insurance coverage of P500,000. Individual account holders of valid deposits with balances of P100,000 and below do not need to file deposit insurance claims, provided they have no outstanding obligations or have not acted as co-makers
of obligations with the said bank. Individual depositors must ensure that they have complete and updated addresses with the bank. PDIC representatives will be distributing Mailing Address Update Forms at the bank premises and depositors may submit the forms until Oct. 16, 2019. For business entities and all other depositors who are required to file claims for deposit insurance, the schedule for filing of claims will be announced through posters in the bank premises and in other public places, the PDIC website www.pdic.gov. ph, and PDIC’s official Facebook account. PDIC also reminded borrowers to continue paying their loan obligations with the closed Rural Bank of Larena and to transact only with designated PDIC representatives at the bank premises. For more information on the requirements and procedures for filing of claims for deposit insurance and settlement of loan obligations, all depositors and borrowers of the bank are enjoined to attend the Depositors-Borrowers’ Forum on Oct. 22, 2019. Details will be posted at the bank premises and in other public places. Pursuant to Section 13 of R.A. 3591, as amended, PDIC shall likewise accept Letters of Intent from interested banks and non-bank institutions for possible Purchase of Assets and Assumption of Liabilities (P&A) as a mode of liquidating
Rural Bank of Larena within 60 days from PDIC takeover subject to compliance with the requirements prescribed under the Guidelines in Pre-qualifying Proponents and Evaluating the Proposals for Purchase of Assets and Assumption of Liabilities Mode of Liquidating Closed Banks posted in the PDIC website. All stakeholders and interested parties may communicate with PDIC Public Assistance personnel stationed at the bank premises or call the PDIC Public Assistance Hotline at (02) 8841-4141 or the Toll Free Hotline at 1-800-1-888-PDIC (7342) for those outside Metro Manila. Inquiries may also be sent by e-mail to pad@pdic.gov.ph or via private message to the official PDIC Facebook account at www.facebook.com/OfficialPDIC or visit www.pdic.gov.ph. PDIC was established on June 22, 1963 by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is P500,000 per depositor. All deposit accounts by a depositor in a closed bank maintained in the same right and capacity shall be added together. A joint account shall be insured separately from any individually-owned deposit account. (rac/PIA7-Siquijor with PDIC PR)
by Rizalie Anding Calibo With high hopes and determination, the Philippine National Police (PNP) is close to attaining “ a highly capable, effective and credible police service,” a vision that drives the PNP’s Patrol Plan 2030. This, PNP officials claimed, is best manifested in the several accomplishments and breakthroughs the offices and units within the organization have made recently. Never forgeting the multi-sectoral support from various stakeholders, PNP thanked the local chief executives (LCEs), the various advisory councils, and the community for their collaboration and support that strengthened the organization. “ Yo u r p a r t i c i p a t i o n a n d cooperation are leading us to the attainment of our vision of becoming a highly capable, effective and credible police service,” said PBGen. Sterling Raymund P. Blanco, Director, Center for Police Strategy Management at the Conferment and Awarding Ceremony of Police Regional Office 7 (PRO7) Offices and Units where the Siquijor Police and Provincial Office (SPPO) and its six police stations were among those conferred proficiency status in the PNP’s Performance Governance System (PGS). SPPO received the PGS plaque with proficiency pin attached to the plaque and the certificate of silver medal award and silver eagle award for garnering an overall rating of 95.3 percent. Likewise, Lazi Police Station also received the same plaque and silver medal and eagle awards for an overall rating of 95.98 percent, while the rest of the police stations (Enrique Villanueva, Larena, Maria, San Juan, and Siquijor) received the PGS plaque with proficiency pin attached. Blanco highlighted the multisectoral support as shown by the
SPPO Provincial Director PCol. Angela Rejano (center), Lazi Municipal Mayor James Monte (right) and Lazi Chief of Police PCapt. Nelson Lamoco (left) showing off their silver medal and silver eagle awards for garnering overall ratings of 95.3 percent and 95.98 percent, respectively, in the PGS proficiency stage. (rac/PIA7-Siquijor) positive feedback they receive from several stakeholders and the community. PRO7, he said, has been effective in maintaining peace accross the region, which Blanco said is commendable and truly reflective of their professionalism, dedication to service and commitment to the vision of national leadership . He said it is manifested in the conduct of large scale illegal drug operations, neutralization of organized crime groups, and drug peddlers, and delivering peace and order initiatives as revealed by the downward trend of crime statistics and high resolution of cases all across the country, among other breakthroughs, which is indicative of a safer Central Visayas. “Media practitioners, LCEs, as well as the advisory councils from different units have expressed their heartfelt praises towards the effort and sacrifices given by the brave men and
women of PRO7 in keeping the peace in this part of our country,” the brigadier general noted. The PGS Proficiency stage awarding ceremony, the official said, is a validation of PNP’s continuous monitoring and evaluation of the implementation of the PNP Plan 2030, their peace and order agenda for transformation and upholding the rule of law. Following the proficiency stage, Blanco challenged the police to exert greater efforts in attaining the final stage and be institutionalized. “With the conferement of the status, another responsibility has been placed on your shoulders which is to ensure and maintain that all personnel are knowledgeable and involved the ‘ins and outs’ of the PNP Patrol Plan 2030 to page 2