login
login

Europe Daily Bulletin No. 10899

31 July 2013
Contents Publication in full By article 15 / 25
ECONOMY - FINANCE - BUSINESS / (ae) cyprus

30/07/2013 (Agence Europe) - BoC now recapitalised. On Tuesday 30 July, Cyprus announced that it has completed the recapitalisation of Bank of Cyprus (BoC). The raid on 47.5% of unsecured deposits (of more than €100,000) has raised the bank's solvency ratio to around 12%, which will fall to 9% by the end of the structural adjustment programme. Now that it has been recapitalised, BoC should be able to return to the standard monetary operations of the European Central Bank, which cost less,...

Contents

EXTERNAL ACTION
ECONOMY - FINANCE - BUSINESS
INSTITUTIONAL
SECTORAL POLICIES