On November 28th, state company “Indėlių ir investicijų draudimas” (Deposit and Investment Insurance) selected banks, which will pay insurance compensations to individuals and companies that had their finances in AB bankas SNORAS. 
State company “Indėlių ir investicijų draudimas” selected UAB Medicinos bankas to pay insurance compensations for legal entities in Tauragė district.
Legal entities, as well as natural persons, shall receive 100 percent compensation of deposit up to 100 000 (one hundred thousand) Euros, in national currency – up to 345 280 Litas respectively.
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The Bank of Lithuania board member Audrius Misevičius noted, that banks will only perform money payout function, and the deposits shall be compensated by state company “Indėlių ir investicijų draudimas”.
“Depositors do not need to take any actions at the moment, it means, they do not need to apply anywhere or provide any information about their deposit. All data shall be transferred by “Indėlių ir investicijų draudimas”. They promise to do that in the near future”, said A.Misevičius.
At present, state company “Indėlių ir investicijų draudimas” and banks regulate all the necessary preparation works, related to smooth payout (making lists of depositors, data verification, preparation of information systems and other necessary works).
Banks and state company “Indėlių ir investicijų draudimas” will announce about the payout procedure publicly.
By the end of the year, depositors will have a possibility to dispose of their finances.
2011-11-29
Source: The Bank of Lithuania