Berlin - The German financial supervisory authority BaFin Wednesday ordered an immediate moratorium on the activities of Weserbank, a small bank based in the northern city of Bremerhaven.

BaFin officials simultaneously made application for declaring the bank insolvent at the civil court in the city.

The moratorium prevents the bank from making payments, from selling any assets and from conducting any business with clients.

At the end of last year, Weserbank had assets of 120.4 million euros (190 million dollars). BaFin put liabilities to clients at some 25 million euros. (dpa)