Given the significant deterioration in the solvency of the Rural Savings and Credit Fund Root SAA. (CRAC Raíz), the Superintendency of Banking, Insurance and AFP (SBS) had to intervene to safeguard the interests of the saving public and the stability of the financial system. In this way, the entity ceased its operations and its administration passes into the hands of the supervisory entity.
However, many customers of CRAC Root they have the question about what will happen to their savings deposited in the intervened entity. To do this, SBS made some details to reassure users.
What will happen to the savers of Caja Raíz?
The SBS clarified that the savings of the clients of CRAC Root They are guaranteed by the Deposit Insurance Fund (FDS), which amounts to S/123,920, that is, this is the maximum coverage that each person who saved their money in the financial institution has.
“96.3% of savers in the Rural Root Box they will recover 100% of their savings from the resources of the Deposit Insurance Fund, including the interest generated to this date. The rest of the depositors will be able to recover their deposits with the recovery of the assets and liquidity of the intervention box,” said Jorge Mogrovejo, deputy superintendent of banking and microfinance at the SBS, at a press conference.
In detail, the SBS official pointed out that a total of 56,432 savers will be able to recover 100% of their deposits, since the total amount covered is S/719 million. While “the number of depositors not covered or partially covered is quite small.”
Also, it is important to mention that the return will include the interest generated up to the day of the intervention to CRAC Raíz.
What will happen to CTS accounts?
CTS deposits are also covered by the Deposit Insurance Fund for up to S/123,920. In addition, if the client of the intervened entity had savings and CTS, “first the savings are paid and with the remaining coverage the CTS is paid, up to the amount of coverage,” the SBS specifies.
In the event that any deposit has been in dollars, the FSD will convert it into soles at the exchange rate Average sales on the date the listing is generated.
Source: Larepublica
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