Solines: “The depositors will get their money inmediately and not on paper”

In an interview with Gamatv, Superintendent of Banks, Pedro Solines, explained that if the Territorial Bank fails to be sold in two weeks (deadline within the implemented resolution plan), the Deposit Insurance Corporation (CSD for its Spanish acronym) will begin paying the guarantee of up to $ 31,000 per depositor.

“Depositors would receive their money immediately, not on paper or deposit’s certificates as it occurred on other times,” Solines stressed out.

Pedro Solines

However, Solines said that the optimal thing would be to sell the bank so the depositors can move to other financial institutions and customers who do not want to be at some new bank would be able to withdraw their money.

The Territorial Bank, whose operations were suspended since last Monday, have 79,000 customers, of which approximately 25,000 have deposits of less than $ 1, 53,500 have less than $ 30,000 and are covered by the deposit insurance, and 500 have more of $ 31,000 which is the limit of coverage for depositors.