Cyprus Mail

CBC releases further €90m to support economy

The central bank (CBC) said Friday it has released a further €90m that could be used to support the economy by pushing back a deadline that obliges other systemically important institutions (O-SII) to hold additional capital buffers.

The CBC said it has decided to extend by 12 months the time schedule for the gradual introduction of capital buffers by O-SII, thus releasing €90m in additional funds from January 1, 2021.

The O-SII in Cyprus are Bank of Cyprus, Hellenic, RCB, Eurobank, Alpha, and AstroBank.

The funds can be used by banks to absorb potential losses and to finance households and businesses, the CBC said.

Related Posts

SAP SE: Accelerating digital transformation through products and services

CM Guest Columnist

WIRE FS: At the forefront of real estate digitilisation

Paul Lambis

Hellenic Bank: Investing in technology is a win-win

CM Guest Columnist

Leading through Research and Innovation

Paul Lambis

Electronic Product Development: Transforming and improving lives

Paul Lambis

Cryptocurrencies tumble as coronavirus variant shakes markets

Reuters News Service