The Central Bank of Cyprus said that it has started to pay depositors at the Cyprus branch of the Latvian lender Trasta Komercbanka their guaranteed compensation, after Latvian regulators stripped the bank of its licence.
“The guaranteed compensation to one depositor should be paid in one transfer” and “should be transferred to an account in another bank ordered by depositor,” the central bank said on its website on Thursday. “The applications for payout of guaranteed compensations should be submitted to the branch in its working hours, or using services for money transfer electronically, if such option is provided in depositors agreement with JSC TRASTA KORMECBANKA”.
The central bank added that following the license revocation, depositors have to present the same identification documents they used in the past when dealing with the bank’s Cyprus branch and added that they can also submit complaints concerning Latvia’s Financial and Capital Market Commission decision at the Central Bank of Cyprus.
“The Central Bank of Cyprus wishes, further, to inform that it will act as an intermediary, forwarding any complaints to the FCMC in Latvia,” it said.