Investprivatbank’s depositors not to suffer: top official

The law recently modified by the parliament, which endows the central bank with more leverage to protect depositors’ interests, and all the laws regulating this area allow us to assert that Investprivatbank’s depositors will not be prejudiced, says first deputy premier Igor Dodon. “I am certain the measures undertaken now will allow for the depositors to get all their deposited money, if they want. Because there is another scenario: they could become depositors in another bank. In this case, their deposits will be transferred and they will lose parts of the interest, keeping their money in the bank,” Dodon specified. As Info-Prim Neo wrote, the National Bank (BNM) withdrew Investprivatbank’s license. On June 19, BNM officials told a news conference they started to liquidate the bank and would sell its assets. They plan to sell the bank within a month, and it is likely to allow for discharging all the depositors’ savings. When asked if other Moldovan banks may also go bust as Investprivatbank, Dodon has said he does not have such information. “We have carried out an anti-stress test for all the banks: what is going to happen with them if 30-40% of their depositors withdrew their savings and modeled a situation. Now there are no other banks in Moldova which may be affected to the degree Investprivatbank was. Moreover, in case the commercial banks need more liquidity, the BNM is willing to offer them money, as far as I know,” Dodon added.