My concerns and that of people like Martin Everson who know the local way how things work might not have been too unwarranted... A month in, no money in sight and narrative slowly making a U turn.
I do hope everyone is getting their money out. The good thing is that there is enough publicity and a few positive statements about liquidity that might make things turn out ok at the end. The MFSA has kind of shot themselves in the foot with the prior narrative and publicity of this all.
I still see the EMI accounts that were clearly marked as being non-protected at big risk. That "international" team alone at their rates and "ultra fast working pace" will bleed a nice chunk of money out of the remaining balance and they are already creating that narrative:
"“In the context of a small bank that is a Maltese-licensed and regulated credit institution, the above rates are exorbitant and unreasonable. [They] are clearly not in the interest of the bank, nor of its depositors, employees and shareholders. If such rates were to be maintained unabated, the fees of the competent person will inevitably deplete the bank’s capital…”"
Insured / domestic SME accounts getting (some) money back and unprotected EMIs being served with that explanation... we were fully liquid until the consultants bleed us dry... not our fault... no wrong doing. The regulators probably pointing towards the EU and general anti laundering procedures.