The ECB as a direct supervisor of JSC “PNB Banka” took above decision under the Regulation (EU) No 806/2014, having established that the bank had failed to comply with regulatory requirements and assessing the financial situation of the bank.
In accordance with the FCMC’s decision, as from 15.08.2019. at 21.00 the bank must completely cease the provision of financial services, including the execution of customer payments. Such a decision is taken to avoid the outflow of bank’s funds. This means that as from now operations of JSC “PNB Banka’s” cards, online banking and ATMs have been suspended.
“We are aware that this news is unexpected for the bank’s customers, but we can confirm that the FCMC is working to find the most convenient and efficient solution to start the payout of guaranteed compensation to the customers as soon as possible, covering the customer funds deposited in the bank up to 100 000 euro. In the coming days, 99.2 % of depositors will be able to start receiving their money deposited in the bank, which will be fully covered by the funds of the Deposit Guarantee Fund,” FCMC Chairperson Kristīne Černaja-Mežmale emphasizes.
By reacting to the decisions of ECB and SRB, FCTC has decided on the unavailability of deposits to enable the customers to receive guaranteed compensation as soon as possible. The FCMC will decide on the form and procedures for the disbursement of guaranteed compensation in the coming days.
The disbursement of guaranteed compensation shall be started not later than on the 8th working day following the occurrence of the unavailability of deposits. The Deposit Guarantee Scheme ensures the disbursement of deposits up to EUR 100 000 for each customer of JSC “PNB Banka” in the form of a guaranteed compensation.
The guaranteed compensation of up to 100 000 euro shall be paid to both natural and legal persons for all types of deposits in any currency. The guaranteed compensation covers the bank client funds, accrued deposit interest until the date of occurrence of the unavailability of deposits, current account and payroll account balances and savings accounts.
The FCMC will inform on the future actions needed in relation to the JSC “PNB Banka”.
Additional information to the customers and media, as well as current phone numbers are available on the FCMC website: www.fktk.lv/en
FCMC’s e-mail for JSC “PNB Banka” clients: firstname.lastname@example.org
INFOGRAPHICS on the Latvian deposit guarantee scheme: https://www.fktk.lv/wp-content/uploads/2019/08/ngf2019_3_ENG.pdf
FCMC Communications Division
Phones: +371 67774807; + 371 67774808