Cyprus Mail
Business Cyprus

BoC could resort to ELA to replace cheaper funding

By Stelios Orphanides

Bank of Cyprus may have to replace up to 800 million euros in cheaper funding from the European Central Bank with mostly costly financing in case Cyprus fails to meet its bailout terms, a bank official said.

“We will have to apply for emergency funding should Cyprus fail to get a positive evaluation,” of the progress in implementing the economic and financial reform programme agreed with international creditors the official, who spoke on condition of anonymity, said in a telephone interview today.

Related posts

Citizens must pitch in for Cyprus settlement, Spehar says

Source: Cyprus News Agency

Cyprus in ‘historic’ bid to host group phase of Eurobasket 2025

Source: Cyprus News Agency

Coronavirus: No deaths, 106 new infections announced on Wednesday (updated)

George Psyllides

Police investigate €38,000 online fraud

George Psyllides

Anastasiades, Salih discuss Iraq’s participation in trilateral mechanism

Staff Reporter

Cyprus has highest share of working poor in EU who cannot afford heating

George Psyllides

2 comments

Comments are closed.