At the end of April, the Bolivian Financial System Supervisory Authority (ASFI) took control of Banco Fassil, the third-largest bank in the country, after a breach of its customer obligations. The police arrested several executives for alleged mismanagement at the same time.
The regulator intervened after receiving multiple complaints that the bank was not turning over deposits to its clients. In several cities, clients were queueing at bank branches to demand their savings. Client deposits total $2.7bn, according to data from Bolivia’s Ministry of Economy.