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Frequently Asked Questions

Normative acts do not provide for such compensation.

Creditors whose outstanding balances and deposits in ABLV exceeds EUR 100 000 (is not guaranteed by the state), as well as other legitimate lenders who received creditor status after making the decision on liquidation, can assert their claims within three months from the day, when an entry was published in the official Latvian publication "Latvijas Vēstnesis" about the beginning of the liquidation process of the credit institution (March 8, 2018), that is, until June 8, 2018.

To submit your creditor's claim, fill out the application form (a sample of the creditor's claim and add the copies of documents that justify the creditor's claims - all the documents which form grounds for the creditor’s request.

For instance:
- agreements with the bank for the provision of services (e.g. current account opening agreement, card account opening agreement, deposit or factoring agreement, etc.).;
- account statements (can be found in the Internet banking system);
- copies of payment orders (payment orders not executed due to the liquidation of the bank);
- notarized power of attorney for private persons where a claim of the creditor is not submitted by the customer himself but by his authorized representative.

Please note that this is an approximate list of documents and it may vary according to the individual creditor's claim!

The creditor's claim and the package of documents attached to it must be sent to the liquidator.

It can be done:

- by mail (address and requisites in the form);

- by e-mail (with a reliable e-Signature) to the address;

- personally at the Bank's Customer Service Center in Riga

According to the decision of the Council of the Financial and Capital Market Commission (FCMC), the disbursement of guaranteed compensation to ABLV Bank customers will begin on 7 March.

There are two ways how to receive the guaranteed compensation:

- Clients may submit applications via the  internet banking system (the compensation will not exceed EUR 100 000) specifying their account number in another bank. The compensation cannot be paid to a third party.* Starting from 7 March, there will be only one payment order form available in  internet banking - Disbursement of guaranteed compensation. The payment of the guaranteed compensation per depositor will be made as a lump sum payment. The entire amount of account balance will be automatically entered into the field “amount and currency” thereby excluding any possibility of making a mistake.

- Clients may submit applications in all bank's branches. 

Applications for the disbursement of guaranteed compensation will be accepted for a period of five years following the date when the unavailability of deposits occurred (7 March 2018), i.e. until 2023.

Bank customers in Luxembourg will be able to claim compensation in the internet bank in Luxembourg or in the office. clients temporarily do not have access to their funds either in the bank's office or in the Internet bank. The card system is disabled, so customers can not pay with bank payment cards, they can not withdraw money from ATMs. Clients need to monitor the FKTK public messages ( about the procedure of payments guaranteed by the state, the place and time of commencement of payments. 


FKTK will try to start the payment as soon as possible, presumably it will happen in the next 8 working days. The Deposit Guarantee Law provides that the beginning of the payment of guaranteed compensation must occur within 8 working days from the day when the deposits become inaccessible  (not later than March 7, 2018).

On the order, time and place of payment of guaranteed compensation (to individuals and legal entities), the FKTK Board will make a decision and immediately notify. Information will be available both on the home page, in the bank, and in the media.

Each client in each Latvian bank in case of inaccessibility of deposits the state guarantees payment of up to 100 000 euros from the Guarantee Fund. Management, accumulation and payment of funds provides FKTK.

The refund is provided for all types of deposits in all currencies in an amount that does not exceed 100,000 euros in all accounts together, which are opened in the branches of the enterprise. The amount guaranteed by the state refers to deposits, balances on settlement accounts, salary accounts, savings accounts, etc. The refund of deposits, which does not exceed 100,000 euros, is paid in full.

Yes, interest is also included in the reimbursement amount, including the interest that is calculated until the day when the deposits become inaccessible, unless the total amount exceeds 100,000 euros. For example, if the customer has a deposit of 99,000 euros, and the accrued interest up to the day when the deposits became inaccessible, amount to 1,500 euros, then the client will receive 100,000 euros (99,000 + 1,000 percent), but 500 euro will not receive. The fact of inadequate deposits was confirmed on February 24, 2018.

In accordance with the law, guaranteed compensation is paid in euros. If deposits were in other currencies, then they are converted into euros.

Guaranteed compensation up to 100 000 is due to all bank customers - both individuals and legal entities, residents and non-residents. The guaranteed compensation also applies to the accounts of the Latvian state and local governments in the bank (if the budget of these institutions does not exceed 500,000 euros).

If the bank has identified in time each such depositor, in case of insolvency of the bank, each investor can claim a full amount of compensation in the amount of 100 000 euros.

If the customer's deposit was less than EUR 10 and within two years until February 24, 2018 (the day when the deposits became inaccessible), no actions were taken with him, no guaranteed reimbursement. Other exceptions, when compensation is not required, are described in Article 23 of the Latvian Deposit Guarantee Law (

No subordinated debt - this is one of the exceptions for which reimbursement is not supposed.

In the accounting registers of banks, information is kept about all customers who have rights to guaranteed reimbursement, as well as its volume. This information is checked by the FKTK.

Yes, there are some types of transactions in which individuals can claim additional reimbursement (up to 200,000 euros), ie, together with a standard refund it up to 300,000 euros. Such an event occurs if, within the last 3 months, the funds have been received from the sale of real estate, social compensation from the state, compensation for damages or compensation for unjust conviction.

In order to get a refund, the client needs to submit the application together with the documents, which confirm that the contributions correspond to  the criteria.

No. Guaranteed compensation is paid only for the amount that was (or was not) available on the day when deposits became inaccessible. If a sworn bailiff collects the client's funds in a bank, the corresponding recoverable amount up to EUR 100,000 will be transferred to the bailiff or tax administrator. If, after calculation with the bailiff or tax administrator, a part of the pledged sum is released, the client will have the opportunity to receive a guaranteed compensation later. In this case, the time (5 years) during which a guaranteed compensation can be obtained is considered from the day when the guaranteed compensation or its part becomes available to the client.

The right to receive guaranteed compensation is valid for 5 years after the day when deposits become inaccessible, that is, investors will be able to apply to the bank until 2023.

According to the current estimates, the number of clients will be about 42,000 (both individuals and legal entities).

Then will they in this case have the right to further payments from the Guarantee Fund after the cancellation of the bank's license?  

Yes, even in this case, all customers who meet the relevant category, after the FKTK determines the terms of payments will be paid guaranteed repayment up to 100 000 euros.

After the cancellation of the banking license for all depositors that correspond to the category of clients eligible for guaranteed compensation, the amount of payment up to 100,000 euros is guaranteed, regardless of when the funds were credited to the client's account.

The fund has accumulated 236 million euros.

Such clients will be able to lend their credit claims to the liquidator of the process as soon as the deadlines for accepting such applications are established. Despite liquidation, the bank has a positive capital, therefore, the assets are sufficient to pay off all liabilities, but for a longer period of time. 

The application form is available on the FKTK homepage: An application certified by an electronic signature can be sent by e-mail:, a letter to the address. Kungu, Riga, LV- 1050, and also through the portal

The financial commission of Latvia launched a hotline for the clients of ABLV Bank -


According to Chapter XIV of the Law on Credit Institutions of a Credit Institution on Bankruptcy:

A credit organization may be liquidated:

1) in accordance with the decision of the meeting of shareholders of the credit organization (self-liquidation);

2) in accordance with a court order;

3) in case of bankruptcy.

In case of bankruptcy:

1. The administrator submits an application approved by the FCMC to the court.

2. The decision to initiate a bankruptcy case is taken by the court, after which the bank loses the license. Subsequently, the word "liquidated" should be added to all bank details. Public auctions are organized for the sale of bank assets.

3. Within 3 working days after the court decision on opening a bankruptcy procedure

4. The Administrator publishes a notice in the Official Journal of the Republic of Latvia and two other newspapers.

5. Creditors must submit their claims within 3 months from the date of publication of the report in the Latvian Journal.

6. When the license is canceled, the FCMC shall immediately notify the Bank of Latvia in writing and within 30 days the European banking authority.

7. In accordance with the cost of liquidation creditors' claims procedure (basic amount - net of interest) shall be satisfied in the following order:

7.1. Guaranteed expenses for depositors: up to 100 000 euros for each depositor. It is estimated that 490 million euros will be required to cover the guaranteed costs of ABLV.

7.2. Other expenses for depositors.

7.3. Salary of employees.

7.4. Taxes and other contributions to the state budget.

7.5. National claims for government-guaranteed loans.

Each round of expenses begins only if the previous round is fully paid.

A decision to revoke a license from a credit institution may be challenged in the European Court of Justice.


If you have a payment card agreement and a bank credit card with a limit has been issued, it is possible to pay the limit and interest on the account of the Bank to be determined. In the details of payment, you must indicate your name, surname, personal code and purpose of payment. For example: "name, surname, p.k.000000-00000, payment of the credit limit."

The exact amount of the paid limit and the amount of interest can be found out from the Bank's specialists.

If you do not have sufficient funds to fully pay off your card debt, please contact the Bank's specialists on restructuring the loan, drawing up a one-year payment schedule.

If you have a loan agreement, a monthly payment or interest payments can be made in accordance with the schedule to the account of the Bank to be determined. In the details of payment, you must specify your name, surname, personal code, credit agreement number. For example: "first name last name, p.k.000000-00000, credit agreement number _____".

The bank calls for the possibility of on-lending in any other commercial bank. Making a deal for on-lending, the Bank will not hold a commission for on-lending.

Legal entities:

If you have an agreement on a payment card and a bank credit card is issued, then the used credit limit and interest can be paid to the account of the Bank to be determined. In the payment details, you must specify the name of the company, the registration number and the purpose of the payment. For example: "SIA Name, reg.number 40000000000, credit card limit payment".

The exact amount of the paid limit and the amount of interest can be found out from the Bank's specialists.

If you do not have sufficient funds to fully repay the amount of debt, we urge you to contact the Bank's specialists to find out about the possibility of restructuring the loan.

If you have a loan agreement (including a credit line agreement, an overdraft agreement), then the monthly payment and / or interest according to the schedule should be transferred to the account of the Bank to be determined. In the details of payment, you must specify the name of the company, registration number, credit agreement number. For example: "SIA Name, reg.number 40000000000, credit agreement number".

The bank encourages you to find the possibility of on-lending in any other commercial bank. Making a deal for on-lending, the Bank does not withhold a commission for on-lending and does not apply penalties for early repayment of obligations.

If you have a contract on factoring, then in the future you need to pay the bills to the account to be determined later. In the details of payment, you must specify the seller's name, registration number, contract number, account number and number. For example: "SIA seller Name, reg.number 40000000000, factoring agreement number, account number 0-00,"

If you have any other agreement with the Bank (about renting a safe, lease agreement), then in the future you need to pay the bills to the account to be determined later. In the details of payment, you must specify the seller's name, registration number, contract number, account number and number. For example: "name last name, p.k.000000-00000, contract number__, account number ___". Or "SIA Name, reg.number 40000000000, contract number ___, account number ___".