Euro Pacific Bank

Migration Update: February 19, 2024


Dear Opt-in Customers,

We hope this message finds you well. For your peace of mind, we would like to increase the frequency of these updates on the migration and liquidation process.

Since our last update at the beginning of the month, we have continued to push for the migration and liquidation processes to begin at the soonest possible date, and we have continued to work alongside the Receiver in connection with his data migration, support, account consolidation, and reconciliation efforts. At this time, however, the migration of opt-in clients to Qenta continues to remain dependent on the Receiver finalizing his liquidation plan and upon him receiving approval on this plan from OCIF.

Please rest assured that we will continue to work diligently to ensure the smooth migration of opt-in customers at the earliest possible date. As mentioned, we will also increase the frequency of the update notices for opt-in customers on the EPB homepage, as well as via email in some cases.

Should you require special assistance, please feel free to contact the EPB Client Services team at any time at [email protected]. We appreciate your ongoing patience and understanding.

If you are an opt-out customer, please remember to visit the dedicated website setup by the Receiver for updates at https://epbprliquidation.com/.

Sincerely,
Euro Pacific Bank.
[email protected]

Migration Update: February 02, 2024


Dear Customers,

We trust this message finds you in good health and high spirits. Euro Pacific Bank and Qenta are unwavering in our commitment to expediting the liquidation and migration processes with the utmost efficiency.

Opt-in Process

Our dedicated team continues to work alongside the Receiver, appointed by OCIF (Office of the Commissioner of Financial Institutions of Puerto Rico), to get this migration completed seamlessly. The successful migration of our opt-in clients to the Qenta platform hinges upon the Receiver’s finalization of his liquidation plan and subsequent approval with OCIF. At this time, we have unfortunately still not received confirmation from the Receiver’s office as to when this process will be completed. We continue to push for the migration date to be set at the soonest possible time and will provide notice to all opt-in clients as soon as this date can be confirmed.

Opt-out Process

The Receiver and his team have initiated communication to collect the necessary documentation via the Receiver’s portal at https://epbprliquidation.com/. If you are an opt-out customer and have inquiries regarding this process, please remember that the website provides direct access to the Receiver’s office for your convenience.

In Conclusion

We want to emphasize that our commitment to completing this process as early as possible remains unwavering. We fully comprehend the significance of this transition to you and share your eagerness to witness its completion. For forthcoming updates, we will continue to provide notifications on the EPB homepage and, where appropriate, communicate via email to ensure you receive timely information. Once again, we extend our heartfelt gratitude for your continued trust and patience. Our dedication to keeping you informed remains resolute, and we will promptly provide further updates as they become available.

Sincerely,
Euro Pacific Bank.
[email protected]

Migration Update: November, 2023


Dear Opt-in Customers,

We would like to provide an update on the progress of the EPB liquidation and the migration of opt-in customers to the Qenta platform.

Since our last update, we have continued to support and work alongside the Receiver to facilitate the commencement of the migration and liquidation processes, in connection with data migration and support, and account consolidation and reconciliation efforts. At this time, however, the migration of opt-in clients into the Qenta platform remains dependent on the Receiver finalizing, and obtaining OCIF’s approval with, his final liquidation plan.

We will continue to work diligently with the Receiver to ensure the smooth migration of opt-in customers at the earliest possible date. We will also continue to publish update notices for opt-in customers on the EPB homepage, as well as via email in some cases.

If you are an opt-out customer, please remember to visit the dedicated website setup by the Receiver for updates at https://epbprliquidation.com/.

Should you require special assistance, please feel free to contact the EPB Client Services team at any time at [email protected]. We appreciate your patience and understanding.

Sincerely,
Euro Pacific Bank.

Progress Report: November, 2023

Published: November 20, 2023

Dear Opt-out Customers,

We wish to inform you that the Receiver, appointed by OCIF (Office of the Commissioner of Financial Institutions of Puerto Rico), has published a new progress report that outlines the latest status of the liquidation process.

To access the comprehensive report, click on the following link.

Sincerely,
Euro Pacific Bank.

Receiver’s Report & Communication Portal


Dear Customers,

We would like to inform you that Qenta continues working with the OCIF-appointed Receiver of EPB to facilitate the bank’s liquidation and the migration of opt-in customers to the Qenta platform. The original liquidation plan has been revised in response to evolving circumstances, but Qenta continues to cooperate in full and to swiftly facilitate all necessary information to the Receiver’s staff.

The Receiver has issued an updated progress report that can be consulted in the following link.

Please also note that the Receiver has set up of a separate communication website and customer portal for the EPB liquidation. The URL link to access this website is: https://epbprliquidation.com. This portal is meant to assist in providing accurate information on the process and to allow the exchange of documents and information related to the liquidation, and constitutes the best way to contact the Receiver’s Office.

Despite the launch of this additional portal, key updates regarding the liquidation and the migration will continue to be posted on this website as soon as they become available. We thank you very much for your continued patience throughout this process.

Sincerely,
Euro Pacific Bank.

Migration Update: September, 2023


Dear Customers,

We provide an update on the liquidation of Euro Pacific Intl. Bank, Inc. (the “Bank”) and Qenta’s migration process.

We have been advised that the Receiver has submitted a final version of the liquidation plan to Puerto Rico Office of the Commissioner of Financial Institutions (OCIF) and awaits formal feedback in order to initiate the process. The Receiver continues to work with all stakeholders to prepare for the liquidation of the Bank and for the eventual distribution of funds to opt-out clients.

Additionally, as stated in the Receiver’s update posted via the Bank’s website on July 17, 2023, we understand the Receiver has set up a separate communication website and customers portal. This portal should assist in providing accurate information on the process as well as allow for the exchange of documents and information related to the liquidation. Details of this portal should be available from the Receiver’s Office.

In parallel, Qenta continues with its own preparation for the migration of opt-in clients pending formal confirmation from the Receiver and OCIF that the liquidation and migration can commence. Further details on the final migration timeline and process will be shared by the Qenta Client Services team once confirmed.

The Bank’s core banking system and e-banking channel ceased to operate on August 23, 2023. As required by OCIF and applicable law, data extracts of all client records have been taken and securely stored. All information required by the Receiver’s Office to facilitate the liquidation and meet his legal obligations has been shared in a secure and structured manner. This comprised a large set of carefully structured data.

Qenta’s team remains excited to have the opportunity to welcome opt-in clients to its eco system and will share more about its services and offerings once we receive the go ahead to commence the migration.

Should you have any comments or questions, please feel free to reach out to our Client Services team at [email protected] and we will be very happy to provide assistance. We also recommend you reach out directly to the Receiver’s Office to utilise the customer communication portal established by that Office for the Bank liquidation.

Sincerely,
Euro Pacific Bank.

Migration & Liquidation Update: July 20, 2023

Published: July 20, 2023


Dear Customers,

We are pleased to inform you that the Receiver, who is appointed by OCIF (Office of the Commissioner of Financial Institutions of Puerto Rico), has prepared an additional official progress report detailing the liquidation process up to this point.

To access the comprehensive report, click on the following link.

If you have any comments or questions, please feel free to reach out to our Client Services team at [email protected] and we will be very happy to provide all needed assistance.

And lastly, we sincerely thank all EPB customers for your immense patience throughout this period.

Sincerely,
Euro Pacific Bank.

Migration & Liquidation Update: June 23, 2023

Published: June 23, 2023

Dear Customers,

Following up on the most recent post from June 17, containing the statement from the OCIF-appointed Receiver, we are reaching out again with a status update on the liquidation of Euro Pacific Intl. Bank, Inc. (the “Bank”) and the migration process.

Liquidation

The Receiver in conjunction with key stakeholders is preparing for the imminent liquidation of the Bank. The Receiver will be in contact with the opt-out liquidation clients in short order with additional details on the process, and the ongoing communication plan.

Migration

Qenta is pleased with the recent news from OCIF and the Receiver, and is actively making arrangements to start the migration of clients by next month. The two gating items will be:

  • Qenta awaits the updated liquidation order from the Receiver and OCIF (expected by end of June); and
  • Qenta requires access to the assets that will be used to honor the opt-in client obligations that are being transferred over to the Company. Qenta has received access to some but will receive assistance from the Receiver as relevant for the remaining assets.

Further details on the final migration timeline and seamless transition process will be shared by the Qenta Client Services team closer to the migration date, once confirmed.

Statements

The core banking system will cease after June 30, 2023. So, if you have not, please download your bank statements accordingly.

For mutual fund holders, kindly note that the latest statements (as of June 2023) will be sent to you in July.

Lastly, Qenta’s team is excited to have the opportunity soon to welcome you to the family and will be sharing more about its services and offerings, including its Qenta app that puts you in control of your assets in a safe and secure manner.

As always, should you have any comments or questions, please feel free to reach out to our Client Services team at [email protected] and we will be very happy to provide all needed assistance.

We sincerely thank all EPB customers for your patience throughout this period and we look forward to a pleasant and long awaited close for everyone involved.

Sincerely,
Euro Pacific Bank.

Progress Report: June 17, 2023

Published: June 17, 2023

Dear Customers,

We are pleased to inform you that the Receiver, who is appointed by OCIF (Office of the Commissioner of Financial Institutions of Puerto Rico), has diligently prepared an official progress report detailing the liquidation process up to this point.

To access the comprehensive report, click on the following link.

Sincerely,
Euro Pacific Bank.

Migration & Liquidation Update: May 31, 2023

Published: May 31, 2023

Dear Customers,

Following up on our most recent post from May 5, 2023, we are reaching out again with a status update on the liquidation of Euro Pacific Intl. Bank, Inc. (the “Bank”) and the migration process.

Unfortunately, the Receiver has still not provided a date for the commencement of the liquidation of the Bank. The seller, purchaser and other stakeholders continue to follow up conscientiously with the Receiver and, as soon as we have a meaningful update, we will share it with you via the usual communication channels (website, direct email). It was our strong hope and desire that this liquidation process would have started and been completed by now, particularly because of the court order for the Bank’s correspondent bank to unfreeze queued outgoing wires, a key blocker earlier in this process.

For customers migrating to Qenta, that process will commence as soon as there is visibility from the Receiver on when liquidation will occur. The Qenta team has prepared an easy migration process and will provide further updates closer to the migration date.

As always, should you have any comments or questions, please feel free to reach out to our Client Services team at [email protected] and we will be very happy to provide all needed assistance.

Sincerely,
Euro Pacific Bank.

LAST UPDATED: FEBRUARY 19, 2024

August 29, 2022: Euro Pacific Bank liquidation has commenced. Please read our formal instructions here as it is time-sensitive.

September 2, 2022: Update on pending transactions, brokerage, and account migration.

September 8, 2022: Qenta has emailed a welcome letter to all EPB clients. You can read a copy of it here.

September 16, 2022: Update on pending transactions for clients opting out of Qenta Inc. migration.

September 28, 2022: Update on pending transactions for clients opting out of Qenta Inc. migration.

September 30, 2022: Update on bank liquidation, pending transactions, and migration of assets to Qenta Inc.

October 8, 2022: Update on opt-out deadline for EPB clients who do not wish to migrate their account to Qenta Inc..

October 14, 2022: Customer Update & Townhall.

October 21, 2022: Update on Opt-out deadline - Extended.

November 01, 2022: Mutual funds & outgoing wire requests update.

December 05, 2022: Migration & liquidation update.

December 16, 2022: Comprehensive FAQ is published.

January 27, 2023: Correspondent bank update.

March 8, 2023: Migration & liquidation update.

March 31, 2023: Migration & liquidation update.

April 20, 2023: Liquidation update- Action required.

May 05, 2023: Migration & Liquidation update.

May 31, 2023: Migration & Liquidation update.

June 17, 2023: Receiver's report.

June 23, 2023: Migration & Liquidation update.

July 20, 2023: Migration & Liquidation update.

September 01, 2023: Migration & Liquidation update.

September 22, 2023: Report & Communication Portal.

September 22, 2023: Report & Communication Portal.

November 20, 2023: Progress Report (Opt-out Only).

November 21, 2023: Migration Update (Opt-in Only).

February 02, 2024: Migration & Liquidation update.

February 19, 2024: Migration & Liquidation update.