2011-11-21
Temporary administrator was instructed to submit the conclusion regarding the reorganisation of AB bankas SNORAS by 23 November
After the presentation of the report by the temporary administrator of AB bankas SNORAS and the assessment of potential bank reorganisation models presented by him, the Board of the Bank of Lithuania instructed the temporary administrator to submit the final conclusion regarding the methods of restoration of the activity of AB bankas SNORAS no later than by 23 November. The administrator was obligated to submit a comparative analysis of potential further operation models and to project the costs and terms required for the implementation of each potential model.
Bank operation restrictions were reduced.
The Board of the Bank of Lithuania plans to take the final decisions regarding the actions needed to protect the interests of depositors, creditors and other customers no later than by 24 November.
The Board of the Bank of Lithuania also removed some restrictions on the bank’s operation.
The funds that did not reach the beneficiary, which had an account at another bank, after submitting a payment order due to the application of the restriction of operations will be returned to AB bankas SNORAS customers to their accounts.
The Board of the Bank of Lithuania, which on 17 November decided to allow AB bankas SNORAS customers – natural persons and legal entities – to transfer or withdraw funds in the amount not exceeding LTL 500 per day from each of their accounts using a payment card, allowed the administrator from 23 November to perform these operations also in the bank’s customer service branches.