Search Results for: Bank of Cyprus
Draghi: Cyprus on track for early bailout exit
March 5th, 2015
Cyprus is on track to exit the adjustment programme before the original deadline of 2016, European Central Bank (ECB) president Mario Draghi said on Wednesday, something which he said was remarkable Draghi was speaking at an official dinner hosted ...
CySec and Central Bank of the Russian Federation signed today an updated “MoU”
February 25th, 2015
CySec has issued a press release informing that: The Cyprus Securities and Exchange Commission (‘CySEC’) signed today an updated Memorandum of Understanding (‘MoU’) with the Central Bank of the Russian Federation (‘Bank of Russia’), following the transfer of the functions of ...
Internal and External Risks to the Cyprus Economy
February 20th, 2015
Despite the tragic events of March 2013, Cyprus economy has showed resilience and the country was able to return back to stability and regain some of the lost confidence from international markets and investors rather quickly, which is necessary ...
Hellenic Bank cuts its base interest rates by 1%
February 19th, 2015
1% reduction in the interest rate for credit cards As a result, either the outstanding balance is reduced or the payback period shortened In line with its commitment to support Cypriot households and enterprises, Hellenic Bank is reducing all ...
Greece faces resistance to extra emergency funds for banks
February 18th, 2015
The European Central Bank faces resistance from Germany to allowing any extra emergency lending for Greek banks, people familiar with the matter said, increasing pressure on Athens to sign up to an extended aid-for-reform program. After talks between Greece and euro zone creditors broke down ...
HSBC files: Swiss bank hid money for suspected criminals
February 13th, 2015
HSBC’s Swiss bank concealed large sums of money for people facing allegations of serious wrongdoing, including drug-running, corruption and money laundering, leaked files reveal. Despite being legally obliged since 1998 to make special checks on high-risk customers, the bank ...
Greece Asks ECB to Keep Banks Afloat, Tsipras Pitches Deal
February 2nd, 2015
Greek Prime Minister Alexis Tsipras began the hunt for allies against German demands for austerity as his week-old government appealed to the European Central Bank not to shut off the money tap. Tsipras traveled to Cyprus on Monday before ...
Cyprus: a Recovery in Progress
January 15th, 2015
Cyprus’s banks all passed the European Central Bank’s stress tests, a result that is indicative of the recovery that is under way in the country’s financial sector. However, for these institutions to return to full health they must tackle ...
IMF holds back Cyprus bailout funds
December 19th, 2014
International Monetary Fund says expected tranche of €88m will not be paid after parliament suspended new foreclosure law The International Monetary Fund has said it will not release a further €88m (£69m/US$108m) in bailout money for Cyprus on Friday ...
What type of liquidity does Cyprus need?
December 9th, 2014
There has been a lot of discussion recently, especially after the successful outcome from the stress tests of our main banks, that it’s time for the banks to start offering liquidity to the market to fund growth in our ...
