Superintendence of Banks reports on the closure of the Territorial Bank

Through a comunication published in all the mass media of the country, the Superintendence of Banks and Insurances reported that the Territorial Bank was closed because it was considered “unviable, for its solvency and liquidity problems and therefore they must guarantee the deposits of its customers.”

Outskirts of the Territorial Bank

The suspension of operations is “for the proper safeguarding of assets and liabilities of the Bank and to safeguard the deposits and interests of customers.”

“In the upcoming days,” said the Superintendence, the temporary administrator that has been appointed for the matter will report “publicly about the mechanisms which are to be taken by workers, customers and creditors of the Territorial Bank SA, for the recovery of their assets or the withdrawing of their deposits. ”

“The Banking Board, the Superintendence of Banks and Insurances, in coordination with the Deposit Insurance Corporation and other regulation and control bodies related to the subject, are implementing the mechanisms established by law for the proper safeguarding of assets and liabilities of the Bank and  the deposits and interests of customers, “the statement said.