Export and Industry Bank Inc (EIB) is now on a bank holiday, following its "inability to meet its obligations," the Bangko Sentral ng Pilipinas said Friday.
In a statement, BSP said the Monetary Board has placed EIB "under receivership" for its inability to further operate "without probable losses to its depositors or creditors."
EIB has already agreed to "surrender" its operations to the BSP, the central bank added.
BSP said the Philippine Deposit Insurance Corporation (PDIC) is ready to "service valid deposit claims from depositors of EIB," as well as to process claims the soonest possible.
BSP also allayed fears of PH banks' stability amid EIB's closure, noting that the entire banking system "remains sound and stable with ample liquidity and high level of capitalization."
"The closure of EIB is not expected to adversely affect the Philippine banking system considering its relatively small size. Its total assets is equivalent to only about 0.3% of the total assets of the banking system," BSP added.
The $150,000 pearl-studded, custom-made Calvin Klein dress worn by Oscar-winning actress Lupita Nyong'o at this year's Academy Awards has been stolen, police said on Thursday. The gown, embellished with 6,000 natural white pearls, was stolen from Nyong'o's room at the London Hotel in West Hollywood, during the day on Wednesday, a spokesman for the Los Angeles County Sheriff's Department in West Hollywood said. "Ms Nyong'o was not in the room at the time of the theft," Deputy John Mitchell …