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Dutch Central Bank takes control of DSB
12-10-2009 17:24
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The Dutch Central Bank has taken over the country's troubled DSB Bank, which is now likely to be liquidated.
The Central Bank said the move was necessary because of a 'large outflow of liquidities that jeopardised DSB's existence' and because of 'serious pressure' on the bank's solvency.
Talks with a consortium of Dutch banks to arrange a new start for DSB have failed due to 'uncertainty surrounding possible claims on DSB in relation to excessive loans and failures in fulfilling duty of care, as well as possible losses on issued loans,' it added.
DSB account holders temporarily have no access to their funds.
The Central Bank said the move was necessary because of a 'large outflow of liquidities that jeopardised DSB's existence' and because of 'serious pressure' on the bank's solvency.
Talks with a consortium of Dutch banks to arrange a new start for DSB have failed due to 'uncertainty surrounding possible claims on DSB in relation to excessive loans and failures in fulfilling duty of care, as well as possible losses on issued loans,' it added.
DSB account holders temporarily have no access to their funds.
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