PRESS RELEASE REGARDING THE SITUATION WITH BPA -

The Association of Andorran Banks (ABA), following the declarations made by the Andorran Prime Minister and by the Andorran authority of the financial system (INAF), in which they announced the preventive intervention of the financial institution BANCA PRIVADA D'ANDORRA (BPA), expresses its support to theses actions which are aimed at guaranteeing the daily operations of the financial entity, protect its customers and ensure the good corporate governance, the anti-money laundering policies and the integrity of the Andorran financial centre.

As already stated by the Government and INAF, the intervention does not respond to any solvency or liquidity risk but is aimed at solving the facts that have led the U.S FinCen to publish a finding notice on alleged malpractice of BPA in money laundering matters and defending the Andorran financial centre.

Andorra la Vella, March 11, 2015.

#andorra #banks