Cyprus Mail
Business

BoC ELA drops to €5.9bn

By Stelios Orphanides

Bank of Cyprus said that it paid back a total of €500m in emergency liquidity funding and an additional amount of €260m in financing received from the European Central Bank.

The reduction of the lender’s outstanding debt to the ECB became possible after the government repaid, €750m as part of a bond which came in the possession of Bank of Cyprus after its forced merger with defunct Cyprus Popular Bank in 2013, the bank said.

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