What does it mean if a bank is under suspension agreement?

A bank under a suspension agreement typically means that it has been temporarily restricted from engaging in certain activities or operations due to regulatory concerns, financial instability, or compliance issues. This agreement is often a measure taken by regulatory authorities to protect depositors and maintain the stability of the financial system. During this period, the bank may be required to address specific issues, such as improving its capital position or enhancing compliance protocols, before it can resume normal operations.