Rosalinda U. Casiguran This is Me

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1. 1. www.tribune.net.ph

   www.tribune.net.ph/metro/20040 - [Cached]

   Published on: 9/13/2004   Last Visited: 9/13/2004

   PDIC officer lawyer Rose Casiguran said they are almost done in reconciling the ill-fated bank's records and the PDIC will be ready to service the clients' withdrawals by Tuesday or Wednesday this week.
   
   Last week, the Quezon City-based thrift bank was placed under the receivership of the PDIC because it was no longer able to service its obligations as it fell due in the normal course of business. The FSB's resources were reportedly inferior and therefore insufficient to cover its liabilities.
   
   But Casiguran assured FSB's depositors that there is no cause for worry as the PDIC will refund their deposits, provided however, that they do not exceed P250,000 as mandated by law.
   
   Casiguran said the law increasing the maximum deposit insurance coverage (MDIC) from P100,000 to P250,000 will be applied for the first time on FSB.
   
   "This is a great accomplishment of the PDIC, as this is a single-digit turnaround from the former number of cases during previous months where repayments would take a longer time," Casiguran said in an interview over Radio Mindanao Network yesterday.
   
   She also told the depositors not to worry as the PDIC will be manning the FSB for a period of 90 days, unless prospective investors resume operation of the bank and assume all of its outstanding liabilities.
   
   When asked if there have been proposals from other investors regarding the continued operation of FSB, Casiguran said the PDIC has received several inquiries but no clear intentions of bailing out the bank.
   ...
   Meanwhile, Casiguran advised FSB depositors to bring with them any evidence of deposit, such as passbooks and automated teller machine cards when claiming their deposits.
   
   But those who cannot personally come to the FSB branches may issue a "power of attorney" to their respective representatives.
   
   Earlier, several depositors of First Savings Bank, most of which are stall owners and vendors, trooped to its Divisoria branch in Manila last Tuesday after it announced a "bank holiday."
   
   Casiguran explained that a bank that has already declared a bank holiday can no longer receive new deposits or transact withdrawals of deposited amounts and this is when the PDIC comes in.

2. 2. ABS-CBNNEWS.COM

   www.abs-cbnnews.com/NewsStory. - [Cached]

   Last Visited: 7/9/2004

   PDIC executive vice president and concurrent UCPB director Rosalinda Casiguran revealed that the government will continue to play a significant role in the bank for the next few years.

3. 3. YEHEY!News

   news.yehey.com/news3.asp?c=12& - [Cached]

   Last Visited: 9/30/2004

   "In line with the expansion program of the CityState, we would like to inform you of our intention to join in the rehabilitation of the bank," Delfin said in a letter to Rosalinda Casiguran, executive vice president and chief operating officer of PDIC.
   ...
   In a telephone interview, Casiguran said there are other two other banks that expressed interest to invest in First Savings Bank. However, Casiguran refused to name the bank owing to confidentiality.
   
   Casiguran said the acquisition of First Savings Bank will be subject for the public bidding.
   
   However, PDIC will bid the closed bank if it has received the appropriate legal documents providing the basis for the transfer of equity to acquirer.
   
   "We don't call it an invitation for rehabilitation. We're still waiting for the legal documents for the transfer of equity to acquirer," Casiguran said.