About changes in the rates and charges

Riga, Latvia, September 3, 2019, 08:49 / Banking

Please be informed that changes to the rates and charges of ABLV Bank, AS in liquidation (hereinafter — the Company) will become effective.

Approaching the end of the deadline for claiming the property of third parties stated in the invitation of the Company’s liquidators, i.e., 30 September 2019 (inclusive), the following changes have been made to the rates and charges:

  • from 2 October this year:
    - individual safe deposit box rental service will be terminated;
    - the fee for financial instrument transfer from account with the Company to account with other bank will be decreased;
  • from 1 November this year:
    - the fee for temporary custody of financial instruments and cash holding in cash account for brokerage services (prior to alienation pursuant to part 2 of Section 1721 of the Credit Institution Law) will be substantially increased, except custody of ABLV Bank bonds, which will remain free of charge;
    - the fee for withdrawing the funds from the cash account for brokerage services (by means of a payment or cash withdrawal) will be substantially increased;
    - the fee for forced sale of financial instruments of other issuers will be introduced.

According to the new edition of the rates and charges, new fees will be introduced from 2 October this year, and particular fees will be effective from 1 November this year, namely:

  • for consideration of documents on transfer of creditor’s claim, depending on the type of such transfer and the jurisdiction in which the respective documents are made;
  • for consideration of documents on change of the creditor’s jurisdiction (redomiciliation);
  • for payment of the creditor’s claim (the fee will not be charged for payment of the creditor’s claim by means of a transfer within the EEA).

You are kindly asked to immediately claim your property held with the Company, as defined in the Credit Institution Law, i.e., the financial instruments of other issuers (including shares of ABLV Asset Management mutual funds), contents of individual safe deposit boxes, as well as your other property that is held with the Company.

Pursuant to Section 1721 of the Credit Institution Law, the property considered the property of a third party, as defined in the Credit Institution Law, that is not repossessed by such third party by 30 September 2019 (inclusive) may be alienated by the Company according to the procedure set forth in the Credit Institution Law.

Please note that straight and subordinated bonds issued by ABLV Bank, AS are deemed to constitute the creditor’s claim, and therefore the Company will continue servicing those without applying a fee.

Please be reminded that the rates and charges are available in your Internetbank.