Cyprus' central bank has said all insurance firm deposits in the bailed-out country's second largest bank will now take a loss of 27.5%.
The bank also said the savings of unregistered financial companies , charities and someeducational institutions kept in the Bank of Cyprus will also take an identical loss, but only on deposits of over 100,000 euros (£86,000).
The central bank said the move aims to ease the pain on other large savers who will take losses of up to 60% on Bank of Cyprus deposits of over 100,000 euros.
That deposit loss was a key element in a deal that the country struck with its euro area partners and the International Monetary Fund last month to help fund a 23 billion euro (£20 billion) rescue package
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