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Unavailability of deposits

Unavailability of deposits

Unavailability of deposits is deemed to exist when:

  1. The member credit institution, for reasons which are directly related to its financial circumstances, has not repaid the deposits due and demandable under the legal and contractual conditions applicable, and the Banco de Portugal has verified, no later than five working days after being informed, that the credit institution concerned appears to be unable for the time being to repay the deposits and has no current prospect of being able to do so in the forthcoming days;

  2. The Banco de Portugal makes public the decision through which it withdraws the authorisation of the member credit institution, if such disclosure is prior to the above situation.