Cyprus Mail

Bank liquidity restored to pre-haircut levels, central bank says

The liquidity shortfall in the Cypriot banking system fell by €437.3m on a montly basis in September, to €6.1bn, the lowest since February 2013, as a drop in deposits was more than offset by the ongoing deleveraging, the Central Bank of Cyprus said.

Total deposits fell last month by €131.3m, to €47.7bn, the second highest since July 2013, the central bank said in a statement on its website on Thursday. Total loans fell in September by €316.1m, compared to August, to €53.9bn, the lowest since September 2008.

The drop in deposits in September was mainly the outcome of withdrawals worth €139.8m by other financial corporations, followed by €12m by insurance companies, and €7.8m by non-financial corporations, versus an €18m increase in household deposits, the central bank said.

Non-financial corporations repaid loans worth €238.9m last month, followed by households, which repaid €65m, and other financial intermediaries with €6.8m, the central bank said.

Related posts

Big November haul for customs

Peter Michael

Moves to drag UN into municipal merger dispute

Nick Theodoulou

Official lighting of Nicosia Christmas tree

Gina Agapiou

Wrongful arrest of Omonia fans ‘unfortunate’

Peter Michael

Energy ministry says special subsidies for RES abolished in 2015

Evie Andreou

Pathologist finds evidence to support British woman’s rape claim

Staff Reporter