Ricdic's (estimated) 250 billion ISK embezzlement was compounded by another 380 billion ISK in defaulted loans. What wasn't understood at the time of the embezzlement was how badly the past mismanagement of EBANK, particularly in terms of financial reporting, had impacted the entity. After a recent management shuffle and closer scrutiny of EBANK's operations, the board of directors came to the conclusion that the deficit isn't only a matter of billions of ISK, it exceeds one trillion ISK and this shortfall increases by another 12 billion ISK each month. Given EBANK's situation, the freeze on all accounts means no withdrawals will be processed and account interest will not be accrued until the bank can recover. McCormack explained that "withdrawals will be allowed once the bank achieves a maintainable equity status of 90% (1.8t currently); they will be stopped again should that fall below 80%." He stated that accounts will bear interest again once "interest from non-intensive activities sustainably matches or exceeds the monthly interest expenses" and once "the bank achieves an equity status not less than 85% of its liabilities." The situation is already grim, but in the name of full disclosure, McCormack said, "There are possibly further losses not accounted for, such as operational losses, additional theft and reporting errors. As these are established we will report on them." These future disclosures will involve EBANK pulling data from the full APIs for all staff members who have had access to deposited funds. McCormack said, "You can at any time look at our Public Financials to see exactly with whom and where your ISK is." These Public Financials will be updated and released on a weekly basis. Given all this doom and gloom, what is the future of EBANK? Is there a future for EBANK? This remains to be seen. The coming months will be a time when the bank consolidates its various ISK-generating ventures, and bank employee salaries are being put on hold until the bank stabilizes. Loans are being collateralized and the individuals and corporations who have defaulted will be named publicly. This is in keeping with EBANK's aim for greater transparency. EBANK's board can't give a specific timeframe before they achieve full liquidity once gain, but they believe it will happen within a year. This will come as little comfort to the EBANK customers who are now cut off from their funds and the interest it once generated for them. http://www.massively.com/2009/08/26/eve-online-player-run-bank-1-2-trillion-isk-in-the-red-freezes/