Popham resigned from the Board of Directors in an attempt to preserve capital for the company.

To preserve capital, he said, retirees should withdraw no more than 4 percent annually.

The funds concept is to "preserve capital and provide low risk growth" through diversification.

The bank, in a bid to preserve capital has limited withdrawals to approximately US$35 per day.

A young person can afford higher risk and an older person would want to preserve capital.

"Now, you have to try to preserve capital."

It already has a €8.5bn bond that will convert into shares, which takes the shortfall to €6.5bn, and can take other measures to preserve capital.

"Try to preserve capital until it looks like rates have peaked," he said.

But it's also an environment that many corporte treasurers, who want to preserve capital while putting idle money to work, are not used to.

The main objective is to preserve capital until more positive price trends reappear.