PRAGUE Oct 11 The small Russian-controlled ERB
bank operating on the Czech market is unable to meet its
obligations, the Czech National Bank said on Tuesday.
ERB bank, one of the smallest players on the market with
assets of $277 million in the third quarter last year, has been
banned by the central bank from taking deposits since March this
The announcement triggers payment of depositors from the
country's compulsory deposit insurance scheme, which fully
guarantees deposits of up to 100,000 euros per client.
(Reporting by Jan Lopatka)