THE BORROWERS Association slammed the Central Bank of Cyprus (CBC) on Tuesday accusing it of not properly regulating banks when they were giving out loans in foreign currency.
“Where was the Central Bank when monetary policy reports mentioned an increase in loans taken out in Swiss francs? When...
DESPITE objections from the Cyprus Central Bank, the majority of members of the House Finance Committee want legislation to resolve problems created with three thousand accounts, mainly belonging to non-Cypriots, due to the revaluation of the Swiss Franc (CHF).
The issue was discussed yet again in...
LIMASSOL District Office needs to take immediate action on the land slippage in Limnes area in Pissouri which is affecting dozens of homes, members of the House Interior committee said on Wednesday.
The committee said that the Limassol district office needs to act before a report on the...
NON-PERFORMING loans (NPLs) in the Cyprus banking system remain obstinately high, three months after the new foreclosures and insolvency laws were implemented and it appears that it will take more time to see if they are effective.
According to the Cyprus Central Bank NPLs rose to €27.39 billion...
THE CENTRAL BANK is going to examine the extent of damage for banks in case they convert Swiss Franc – denominated mortgages to Euro.
Mortgage loans made in Cyprus in Swiss Franc stood at € 1bn. Since January 2015 the Franc sharply appreciated against the Euro, leaving those who have loans in...
