FCMC: Guaranteed compensation payments to ABLV Bank AS customers will start on 3 March

01.03.2018
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01.03.2018

Press Release 

FCMC: Guaranteed compensation payments to ABLV Bank AS customers will start on 3 March 

The Board of the Financial and Capital Market Commission (hereinafter – the FCMC) has decided on the procedure for pay-out of guaranteed compensations to ABLV Bank AS depositors. Payments of guaranteed compensations up to EUR 100 000 EUR will be possible to disburse at the Latvian commercial bank selected by the FCMC starting from 3 March 2018. 

In this case, no funds of the Latvian deposit guarantee fund (DGF) will be used for payment of guaranteed compensations because ABLV Bank AS has sufficient financial resources. Total of EUR 480 million are required to ABLV Bank AS customers in guaranteed deposits that ABLV Bank AS has already transferred into the FCMC account where the DGF funds are held. The full amount is disbursed for the eligible deposits that do not exceed EUR 100 000 to each customer.

INVITATION TO THE MEDIA:

A press conference on the above issues is scheduled at the FCMC premises (Kungu iela 1, Riga) for Friday 2 March at 14.00, with participation of:

Head of Resolution and Guarantee Fund Division of FCMC, Jeļena Ļebedeva

Head of the selected credit institution, to inform about the location and procedure for payment of eligible deposits   

Venue: FCMC building, Room 200, Riga, Kungu iela 1 (entrance from the Town Hall Square). 

Registration: Media representatives please register for the event: https://goo.gl/forms/M9se3RDhHqF2Mnlo1 and please hold identity documents. 

The FCMC Board has selected and entered into an agreement with Latvian commercial bank, based on an assessment whether the more favourable conditions for depositors for receiving the guaranteed deposits will be implemented, including payment of guaranteed compensations at the earliest opportunity.

Further information on the guaranteed compensation payment at: http://www.fktk.lv/en/media-room/other-publications/6887-questions-and-answers-regarding-unavailability-of-deposits-at-ablv-bank-as.html

Further information:

FCMC Communications Division

Phone: + 371 67774808, +371 67774807

E-mail: Agnese.Licite@fktk.lv, Ieva.Upleja@fktk.lv 

Contacts


Address:
Kungu iela 1, Riga, LV-1050
Phone:
6 7774800
E-mail:
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