"The banks' withdrawal restrictions hurt us, since our mostly middle-class clientele could only withdraw enough money to pay their basic expenses," Mr. Chervatin said.
There are no withdrawal restrictions.
The government declared a bank and foreign- exchange holiday early this week to avoid a run on the banks after the Supreme Court ruled that bank withdrawal restrictions were unconstitutional.
Bank of Cyprus in the UK said the customers that have transferred to it "will not be subject to the imposition of any 'levy'haircutcut' or withdrawal restrictions applicable to deposits with banks in Cyprus".
In November, it released a plan for an overhaul largely mirroring Ms. Schapiro's agenda, except for an option that would preserve the stable share price so long as cash cushions and some withdrawal restrictions were imposed.
Last week, the Argentine judge running one of the investigations, Maria Servini de Cubria, said that a local bank, Banco General de Negocios, in which J. P. Morgan Chase, Credit Suisse First Boston and Dresdner Bank are minority shareholders, may have been the vehicle for an illegal transfer of $70 million or more out of the country after the withdrawal restrictions were put in place.
Most of his outside investors have long since fled the fund, repelled by the withdrawal restrictions he placed on them during the financial crisis and the revelation that he had borrowed more than $100 million from the hedge fund to pay a personal tax bill (during the same period when investors could not reclaim their money).
Britain's biggest gas supplier, Centrica, has already implemented some withdrawal restrictions.
Often they aren't, due to high fees, mandatory contributions and withdrawal restrictions.
If Greeks had been confident that their deposits would be available regardless of state of their government's finances, there would have been no run; no withdrawal restrictions; and no capital controls.
Like other savings accounts, money market accounts with U.S. banks are FDIC insured, and thus also subject to the six withdrawals restriction.
