Cyprus Mail

Government deposits drop to €1.3bn in October, central bank says

Government deposits fell by €52.5m, to €1.3bn, on a monthly basis in October, the Central Bank of Cyprus said (CBC).

The bank supervisor said that Bank of Cyprus’s outstanding emergency liquidity was €900m at the end of October. According to the bank’s chief executive officer John Hourican, emergency funding was €0.8bn on November 18.

A separate statement on the CBC’s website said the government held additional deposits worth €909.4m in accounts at commercial banks at the end of October.

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