Five separate bills freezing foreclosures to be discussed at House finance committee
Five bills tabled by various political parties with the central focus of freezing foreclosures will be discussed on Monday at the House Finance Committee. The...
banks
Complexity of law amendment sees finance committee pass it over to legal affairs
Lawmakers on Tuesday decided to transfer to the House legal affairs committee a government bill amending the Law of Evidence, which would grant credit-acquiring companies...
Georghadji hits out, says efforts afoot to discredit PEP list
Former central bank governor Chrystalla Georghadji hit back on Thursday at detractors of a list of names of politically exposed persons (PEPs) with non-performing loans,...
PEPs list returned to House, back and forth continues
A controversial list of politically exposed persons (PEPs) and the money they owed banks, including bad debts, has been sent back to parliament after the...
Paphos communities to protest bank closures
Residents of twenty Paphos communities are protesting the closure of bank branches in their area on Tuesday afternoon, urging lenders to keep the local branches...
Greek depositors say ICSID battle looming for Cyprus
Cyprus’ state legal service has said the claims of over 900 Greek nationals seeking compensation for the money they lost in the 2013 haircut on...
Coronavirus: almost €900m in loan installments in abeyance, due at year’s end
Some €894m worth of instalments will not be paid to banks until the end of the year on close to €7.4bn in loans, as part...
E-signatures on the way, innovation minister says
After years of dragging its feet and now forced by the coronavirus crisis to implement e-government as soon as possible, the government will soon be...
Coronavirus: applications to suspend loans reach 50,000, worth €10bn, Petrides says
Requests to suspend loans under the government measures have reached 50,000 amounting to €10 billion, Finance Minister Constantinos Petrides said on Friday. In a post...
Coronavirus: over 40,000 applications for loan suspension at two main banks
Borrowers at Bank of Cyprus and Hellenic have filed over 40,000 applications for instalment suspension until the end of the year. To date, Bank of...
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...
Audit boss calls for checks and balances on bank-loan guarantees
The Audit Office on Thursday called for stronger checks and balances for where the state will be guaranteeing bank loans of up to €2 billion,...
Fitch says risks from Covid-19 to Cyprus banks ‘skewed to the downside’
Fitch ratings agency has downgraded Hellenic Bank’s long-term Issuer default rating (IDR) to ‘B’ from ‘B+’ and Viability Rating (VR) to ‘b’ from ‘b+’ and...
Coronavirus: applications for loan suspensions reach 23,000
The number of loan applications for suspension of payments for the next nine months at the island’s two largest banks has risen to 23,000, CNA...
Coronavirus: Petrides welcomes decision by banks to forego compound interest on suspended loans
Finance Minister Constantinos Petrides on Friday welcomed the announcement by the banks’ association (ACB) that they would not charge compound interest on the deferred interest...
Coronavirus: Bank union calls for measures to protect employees
The union of bank employees, Etyk, on Tuesday called on lenders to launch procedures so that the beneficiaries of government assistance programmes to mitigate the...
CBC governor says banks not expected to charge compound interest on deferred loans (updated)
The central bank (CBC) governor said on Tuesday he expected banks not to charge compound interest on the deferred interest accrued after parliament passed a...
One of two outstanding economy bills passed, vote on second postponed (Updated)
The bill allowing for suspension of loan repayments and interest for natural persons and businesses was passed by parliament on Sunday. A vote on a...
Our View: Success of rescue package depends on length of lockdown
NOTHING unites our parties and politicians like the mission to spend the taxpayer’s money ostensibly to improve to improve people’s lives. This unity and spirit...
Measures will reduce impact of Covid-19 on banks says Moody’s
A government financial support package is expected to help limit coronavirus-related impact on banks’ asset quality, Moody’s ratings agency has said. The financial support package...
