DSB Bank declared bankrupt

On 19 October 2009, the Court in Amsterdam has declared DSB Bank, based in Wognum, The Netherlands, bankrupt. Dutch Finance Minister Wouter Bos said the  failure was not caused by the credit crisis. In his opinion the bank "brought itself into trouble by its policies, customers walking away, unclear communications, and all the uncertainty that was created because of that." Inmediately after court ruling the Dutch Central Bank De Nederlandsche Bank N.V. (DNB) activated the deposit guarantee scheme for account holders of DSB Bank. Subject to certain conditions, the deposit guarantee scheme compensates deposits on current and savings accounts to a maximum of EUR 100,000 per person.

Amsterdam, The Netherlands , October 19 th, 2009

WWW.TREASURYANDFINANCE.INFO

Source: De Nederlandsche Bank (DNB), Amsterdam, The Netherlands, WWW.DNB.NL 


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