First St Vincent Bank Ltd in Receivership

CUSTOMERS - BORROWERS

If a depositor owes the Company an amount for a matured or past-due loan, that amount will be set off against the deposit amount owed by the Company. 28. I have borrowed funds from FSVB. I also hold a deposit account with FSVB – will these balances be set-off? If a depositor owes the Company an amount for a loan and the loan is not matured or past-due, then, at the sole option of the depositor, the amount owed may be set-off against the deposit amount owed by the licensed financial institution.