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12 Questions

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Bank Rehabilitation: Conservatorship

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Questions and Answers

What is the main purpose of bank rehabilitation through conservatorship?

To liquidate the bank

To merge the bank with another bank

To save the bank from bankruptcy and ultimate liquidation (correct)

To punish the management of the bank

Who is responsible for overseeing the bank's operations during conservatorship?

The Bank's Board of Directors

The Conservator (correct)

The Bank's Management Team

The Monetary Board

What is the maximum duration of conservatorship?

1 year (correct)

2 years

6 months

No time limit

What is one limitation to the Conservator's power?

The Conservator cannot revoke perfected and enforceable contracts Signup and view all the answers

Under what condition can the bank be placed under receivership or liquidation?

When continuance of the business would involve probable loss to depositors and creditors Signup and view all the answers

Who has the power to terminate the conservatorship?

The Monetary Board Signup and view all the answers

What is the purpose of a Receiver in a bank under receivership?

To administer the assets and liabilities of the bank for the benefit of creditors Signup and view all the answers

What is the duration of a bank under receivership?

90 days, with no extensions Signup and view all the answers

What is the role of a Liquidator in a bank under liquidation?

To assist the BSP in determining the claims of creditors against the bank Signup and view all the answers

What happens to the assets of a bank under liquidation?

They are converted to money and distributed to creditors Signup and view all the answers

What is the purpose of a bank being placed under receivership?

To protect the bank's creditors and depositors Signup and view all the answers

What is the next step after a bank is determined to be unable to be rehabilitated?

The bank is placed under liquidation Signup and view all the answers