Cosede will return resources of Banco Sudamericano account holders

The Deposit Insurance Corporation (Cosede for its Spanish acronym) will be responsible for returning the resources of depositors of Banco Sudamericano, which was declared in compulsory liquidation on Monday.

Since that date, the Cosede has 10 days to start the process of returning monies entrusted to the bank, but only up to an amount of USD 32 000, the maximum amount of coverage per depositor. Depositors with larger amounts will receive the difference in the respective liquidation of the bank, said the Cosede.

Payments to depositors of Banco Sudamericano will be held by another financial institution. For this, the Cosede will take care of publishing the schedule in the national print media.