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.

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/lv/mediju-telpa/pazinojumi-masu-informacijas-l/2018/par-ablv-bank/6886-jautajumi-un-atbildes-par-noguldijumu-nepieejamibu-ablv-bank-as.html