The government on Friday abolished the last of the domestic capital controls, introduced last year to prevent a bank run after agreeing to a bailout that shut down a major lender, and imposed losses on large deposits in a second.
The remaining restriction was the opening of bank accounts.
"The fourth consecutive positive assessment of the progress of the economic program for
Restrictions on foreign banks were also eased.
Opening an account for indirect credit facilities – letters of credit an d letters of guarantee – was allowed.
If the account is opened to service a loan, then its credit balance must not at any time exceed 120 per cent of the loan balance, the ministry said.
In case the bank only provided an indirect credit facility, the account balance must not at any time exceed 120 per cent of the balance of the facility.
Send to Kindle
Most Popular Stories
- Shia LaBeouf Plea Deal, Alcoholism Treatment
- Stop-Start Engines Save Gas, Reduce Emissions
- Ohio State Band Chief Fired After Probe
- Hispanic Leader Goes the Extra Mile
- Ukraine Says Russians Firing Across the Border
- Ford Q2 Net Profit up 6 Percent
- Jennifer Lopez, Pitbull to Perform at Fashion Rocks
- Ricky Martin Joins 'The Voice ... Mexico'
- U.S. Weighs Refugee Status for Immigrant Kids
- Morgan Stanley Ponies Up $275 Million to Settle SEC Charges