When you have 25 banks in a syndicate, there will be weaker banks and stronger banks.
A weaker bank is not letting money bank into the central kitty. They are trying to offset it against a debt BNB owes them somewhere else. I bet you this is an European bank. The other banks will need to decide whether to let this bank keep its deposit and get rid of it from the syndicate or whether to argue with this bank.
It is possible the syndicate may offer to take this bank out at a discount of its liability in exchange for keeping the deposit.
This is one of the key reasons why BNB has a chance of surviving. No one bank has priority over the others, and while they all squabble, BNB lives on.
It has been interesting to see some glimmers of hope both in the press and on HC regarding BNB, instead of the usual drivel from people with no holdings. I still cannot see what the banks have to gain from managing the BNB assets themselves. Better to let BNB divest them gradually over time.
BNB
babcock & brown limited
