Which authority is recorded against ABLV Bank AS (liquidating)?

The entry is recorded against ECB / Single Resolution Board / FCMC, in the Latvia jurisdiction, under the theme Correspondent banking · non-resident deposits.

What is the current status of this entry?

Status: Self-liquidation approved. Last recorded change: 12 June 2018. The matter arose or was first recorded on 13 February 2018.

How was this matter brought to light?

Supervisory and correspondent-banking action. Each statement in the entry reflects material already published by a named source; nothing beyond those sources is asserted or inferred.

Where can the primary sources for LV-2018-01 be checked?

The entry links to ECB — ABLV Bank failing or likely to fail, 24 February 2018; Single Resolution Board — ABLV decision.

LV-2018-01 · Latvia · 2018

ABLV Bank loses correspondent access and enters self-liquidation after the ECB assessment

Following a US Treasury notice and a rapid deposit outflow, the ECB determined the Latvian bank was failing or likely to fail, the Single Resolution Board found no public interest in resolution, and shareholders proceeded to voluntary liquidation.

Riga old town bank building at night, illustrating the ABLV wind-down — Illustrative image · ABLV Bank AS (liquidating)

Institution: ABLV Bank AS (liquidating)
Authority: ECB / Single Resolution Board / FCMC
Status: Self-liquidation approved
Theme: Correspondent banking · non-resident deposits
Raised by: Supervisory and correspondent-banking action
Jurisdiction: Latvia
Matter arose: 13 February 2018
Last recorded: 12 June 2018

What the sources record

The ECB imposed a moratorium on payments on 19 February 2018.

On 24 February 2018 the ECB declared the bank failing or likely to fail and the SRB decided against resolution.

The Latvian supervisor approved the self-liquidation plan on 12 June 2018.

Timeline

2018-02-13
US Treasury notice concerning the bank published.
2018-02-24
ECB declares the bank failing or likely to fail.
2018-06-12
Latvian supervisor approves the self-liquidation plan.

Primary sources

Questions and answers on this entry

What does register entry LV-2018-01 record?: ABLV Bank loses correspondent access and enters self-liquidation after the ECB assessment. Following a US Treasury notice and a rapid deposit outflow, the ECB determined the Latvian bank was failing or likely to fail, the Single Resolution Board found no public interest in resolution, and shareholders proceeded to voluntary liquidation.
Which authority is recorded against ABLV Bank AS (liquidating)?: The entry is recorded against ECB / Single Resolution Board / FCMC, in the Latvia jurisdiction, under the theme Correspondent banking · non-resident deposits.
What is the current status of this entry?: Status: Self-liquidation approved. Last recorded change: 12 June 2018. The matter arose or was first recorded on 13 February 2018.
How was this matter brought to light?: Supervisory and correspondent-banking action. Each statement in the entry reflects material already published by a named source; nothing beyond those sources is asserted or inferred.
Where can the primary sources for LV-2018-01 be checked?: The entry links to ECB — ABLV Bank failing or likely to fail, 24 February 2018; Single Resolution Board — ABLV decision.

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