2011-11-21
Member of the Board of the Bank of Lithuania: people understand that it is disadvantageous to panic
According to the latest data of the Bank of Lithuania, deposits at the operating banks of the country declined slightly, but such fluctuations of the volume of deposits are normal in the everyday operation.
“We are pleased that the volume of deposits of customers has practically remained unchanged. People understand that there is no need to panic. They understand that withdrawing a term deposit means losing the interest”, said Vaidievutis Geralavičius, Member of the Board of the Bank of Lithuania, at the press conference on Monday.
He indicated that on Sunday the Board of the Bank of Lithuania extended the permission for AB bankas SNORAS customers ‑ natural persons and legal entities – to further withdraw funds in the amount not exceeding LTL 500 from each of their accounts using a payment card. It also allowed to perform the said operations at bank customer service branches no later than from 23 November 2001.
In addition, the funds that did not reach beneficiaries, which have accounts at other banks, after submitting a payment order due to the application of the restriction on operations will be returned to AB bankas SNORAS customers to their accounts. Permission for such operations was granted by the Board of the Bank of Lithuania on Sunday.
On Wednesday at the latest, as envisaged by the resolution of the Board of the Bank of Lithuania adopted on Sunday, AB bankas SNORAS administrator has to submit to the Bank of Lithuania the final conclusion about the financial situation of the bank and to propose possible ways for restoring stability and reliability of the bank’s operation and other potential solutions to the bank’s problems. After analysing them, the Bank of Lithuania will provide recommendations to the Government on the prospects of the bank’s operation.