The High Representative, Paddy Ashdown, will consider the Report issued today by the Provisional Administrator of the Hercegovacka Banka, and take a decision on the future of the Bank, probably before the end of the year.
Under the terms of the FBiH Law on Banks, the High Representative has to choose one of three options:
o First, liquidating the Bank.
o Second, recapitalising and restructuring the Bank.
o And third, selling the Bank.
The High Representative’s decision will be based on the best interests first and foremost of the depositors; the best interests of the local economy; and what is necessary to ensure the law is upheld and the integrity of both the banking system and the Constitution are maintained.
The OHR will refrain from further comment on the report until the High Representative is ready to make his decision.