Regulatory Alerts2018-04-12
Notice - Extension of the Deadline for Applying Resolution Measures to Banco Privado STP
The Central Bank of São Tomé and Príncipe extended the resolution deadline for Banco Privado STP by thirty days to ensure the successful continuation of its official administration and national financial system stability. This extension maintains the existing resolution team structure and guarantees that all institutional services will operate normally during the extended period. Clients may access standard counter services for necessary clarifications throughout regular business hours under the renewed timeline.
COLGO S.F 11 NOTICE PROPOSER(S) ENTRY INTO FORCE ISSUE DATE DOC NO. PAGE 1/1 D.S.F. Subject: Extension of the Deadline for Applying Resolution Measures to Banco Privado São Tomé and Príncipe.
Pursuant to items d) and f) of paragraph 2 of Article 8.2, and item d) of Article 38.2 of its Organic Law, supplemented by paragraph 2 of Article 16.2 of Law 6/2015 "Law on Special Measures for the Sanitation, Resolution and Liquidation of Banking Institutions", the Administrative Council of the Central Bank, meeting in Ordinary Session on April 12 at 10:00 hours, resolved to extend the deadline defined for the Resolution of Banco Privado São Tomé and Príncipe by an additional 30 (thirty) days, keeping the structure of the Official Resolution Administration team unchanged, as established in paragraph 2 of point nine of Decision 04/CAE/2018 dated February 11.
This extension is substantiated by the need to continue the already initiated process, in order to ensure the success of the resolution for Banco Privado STP and, consequently, the normal functioning of the national financial system;
During this period, services provided by the institution will continue to be carried out normally. Clients may obtain necessary clarifications during business hours at the institution's counters.
Central Bank of São Tomé and Príncipe, on April 12, 2018.
12/04/2018 12/04/2018 04/2018
Reviewed Revocation Data: