Thousands try to get deposits from Calasiao Rural Bank

CALASIAO, Pangasinan — Thousands of alarmed depositors of the shuttered Rural Bank of Calasiao, here rushed to get their money from the bank last week over news if would shut down

But most said they were relieved after the troubled bank was placed under the supervision of the Philippine Deposit Insurance Corporation (PDIC).

Through Monetary Board Resolution No. 1877 last Nov. 17, the Bangko Sentral ng Pilipinas (BSP) placed the rural bank under PDIC supervision, raising hopes among its 3,019 depositors that all valid insured deposit claims would be paid. -- Liezle BasaIñigo