BANKS AND cooperative credit institutions do not follow the Central Bank of Cyprus’ (CBC) Code of Conduct in restructuring loans, and all borrowers are urged to take their case to court, the Borrowers’ Association head Costas Melas said on Friday.
He was speaking at a joint news conference,...
AUTHORITIES in Cyprus scrapped on Friday all restrictions on foreign bank transactions for businesses, dismantling part of a regime of capital controls imposed almost two years ago during a chaotic bailout.
The finance ministry said it had abolished a requirement for prior approval of business...
DIRECTIVE 2014/59/EU that establishes a Cyprus-style bail-in framework for the recovery and resolution of credit institutions and investment firms in all EU member states entered into force on 1 January 2015.
According to the European Commission, the new rules harmonise and improve the tools for...
A TROIKA delegation is set to return to Cyprus within weeks, after international lenders suspended Cyprus’ bailout review in September, pending the passing of foreclosure legislation.
“Technocrats from the Troika will be in Cyprus from January 27 and heads of mission will arrive on February 1...
NON-PERFORMING loans (NPLs) in Cyprus’s banking system continued to rise in October to 28.2 billion euros or almost 49 per cent of total loans the Central Bank of Cyprus said.
A month earlier, the NPL ratio was 48.5 per cent while in October last year it was 38.5 per cent the central bank said in...
