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Cyprus News Agency: News in English, 16-10-12

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

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


CONTENTS

  • [01] Investment firms should stop calculating contributions to ICF as

    regulatory capital, Cysec says


  • [01] Investment firms should stop calculating contributions to ICF as regulatory capital, Cysec says

    CNA - Gregoris Savva - CYPRUS/Nicosia 12/10/2016 17:24

    Cyprus Securities and Exchange Commission (Cysec) has instructed its supervised entities (Cyprus Investment Firms - CIFs) to stop calculating their contributions to the Investors Compensation Fund (ICF) as regulatory capital in a bid to terminate the funds systemic nature, Cysec Chairwoman Demetra Kalogirou told CNA.

    In a circular issued on October 10, Cysec notes "the treatment of the ICF contribution, for capital adequacy purposes, is changing as of today."

    The CIFs are instructed to deduct the ICF contribution presented in their records from Common Equity Tier 1 Capital and must no longer risk weight the relevant amount, when total risk exposure amount is calculated.

    (CNA)

    *The full text of the news item is available in the paid version of the CNA web service.

    *CNA reserves the copyright to the news stories it files, which is granted to subscribers for specific use only.


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