Read the Latest International Press Articles Worldwide A)? GHT="50">
Compact version
Today's Suggestion
Read The "Macedonian Question" (by Maria Nystazopoulou-Pelekidou)
HomeAbout HR-NetNewsWeb SitesDocumentsOnline HelpUsage InformationContact us
Monday, 15 July 2019
 
News
  Latest News (All)
     From Greece
     From Cyprus
     From Europe
     From Balkans
     From Turkey
     From USA
  Announcements
  World Press
  News Archives
Web Sites
  Hosted
  Mirrored
  Interesting Nodes
Documents
  Special Topics
  Treaties, Conventions
  Constitutions
  U.S. Agencies
  Cyprus Problem
  Other
Services
  Personal NewsPaper
  Greek Fonts
  Tools
  F.A.Q.
 

Cyprus News Agency: News in English, 13-04-01

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <http://www.cyna.org.cy>


CONTENTS

  • [01] BOC on the restructuring of the bank following Eurogroup decision

  • [01] BOC on the restructuring of the bank following Eurogroup decision

    The Bank of Cyprus (BOC) on Monday issued an announcement on the measures that have been implemented, following the Eurogroup decision on Cyprus on March 25th.

    According to the announcement, a recapitalisation through a bail-in of depositors (a deposit-to-equity conversion) will take place, ensuring that BOC fully satisfies the minimum capital adequacy requirements and maintains a Core Tier 1 of 9% under the adverse scenario developed by PIMCO in December 2012.

    Depositors with deposits up to €100.000 that are exempt as per the relevant decree have been fully protected. BOC also announces the acquisition of the insured deposits and the majority of the assets and loans of the Cyprus Popular Bank Public Co Ltd ("Laiki Bank").

    BOC will service all Laiki's customers in Cyprus based on existing terms and all employees of Laiki in Cyprus have been transferred to BOC with the same terms and conditions. BOC's loans, fixed assets and deposits in Greece have been transferred to Piraeus Bank.


    Cyprus News Agency: News in English Directory - Previous Article - Next Article
    Back to Top
    Copyright 1995-2016 HR-Net (Hellenic Resources Network). An HRI Project.
    All Rights Reserved.

    HTML by the HR-Net Group / Hellenic Resources Institute, Inc.
    cna2html v2.01 run on Monday, 1 April 2013 - 13:39:06 UTC