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, thus enabling it to substantially reduce its dependence on emergency liquidity assistance (ELA) from the ECB. The ECB's Governing Council will decide on Thursday 1 August about BoC's returning to standard monetary operations. (EL/transl.fl)