Our View: Time Competition Commission stepped in over bank attitudes
The European Commission and the European Central Bank champion the market economy and competition but some of their directives have had the effect of stifling...
CBC
Slight increase in new loans in Cyprus in 2019
New loans to corporations and households amounted to €3.19 billion in 2019 marking a slight annual increase attributed to large corporate credit of over €1...
Central Bank calls on employees to be patient and polite
Central Bank of Cyprus Governor Constantinos Herodotou has sent a circular to all banks calling on staff members to be friendlier, more patient and more...
Economy set to grow around over 3 per cent a year by 2021, CBC says
The government will continue to strengthen and deepen the current positive economic growth spokesman Prodromos Prodromou said on Saturday, after the Central Bank of Cyprus...
CBC request to appoint FBME liquidator rejected
By Stelios Orphanides The Nicosia district court has rejected the Central Bank of Cyprus’s application to appoint a liquidator at the Cyprus branch of Tanzania’s...
Cabinet appoints Herodotou, Evagorou at CBC, Maratheftis at CyBC
The council of ministers decided on Wednesday to appoint privatisation commissioner Constantinos Herodotou as executive director of the Central Bank of Cyprus, the press and...
Central Bank fines Ukraine’s Privat Bank €1.5m on money laundering
By Stelios Orphanides The Central Bank of Cyprus said that it fined the Cyprus branch of Ukraine’s Privat Bank more than €1.5m for violating the...
Banks report mixed loan restructurings success in Q2, CBC says
By Stelios Orphanides Cypriot banks delivered a mixed performance in the second quarter in restructuring bad loans as they exceeded two benchmark indicators set by...
Cyprus in race against time to repatriate FBME funds
Cyprus is in a race against time to avert the loss of money held by depositors in accounts at the FBME Bank (Cyprus) Ltd which...
Our View: Grand statements shed no new light on financial collapse
Tuesday’s appearance of the former Governor of the Central Bank (CBC) Athanasios Orphanides at the House ethics committee did not shed any new light on...
ICC ruling cannot stop FBME liquidation, says CBC
THE Arbitral Tribunal of the International Chamber of Commerce may have ruled to allow the conditional access of FBME Bank’s owners to the lender’s premises,...
Our View: CBC bungling over FBME could cost taxpayer millions
THE ACCUSATIONS of maliciousness and incompetence made against the Central Bank of Cyprus (CBC) by the lawyer representing FBME bank, former attorney-general Alecos Markides, do...
War of words over FBME (Updated)
Alecos Markides, the lawyer representing the Tanzanian bank FBME which had its licence revoked, on Tuesday accused the Central Bank of Cyprus (CBC) of maliciousness,...
FBME says staff reduction costly, makes liquidation impossible
FBME Bank, the Tanzanian lender which had its licence revoked by the Central Bank of Cyprus and was shut out of the US banking system...
FBME takes legal steps to challenge redundancies ordered by CBC administrator
FBME Bank said late Saturday it would be fighting “the latest move” move by the Central Bank of Cyprus (CBC) and its administrator “to secure...
CBC to request FBME resolution order by Wednesday – reports
By Angelos Anastasiou Monday’s decision to revoke the banking licence of the Federal Bank of the Middle East (FBME) was part of the Central Bank...
Former CBC governor offers teleconference appearance
Former Central Bank (CBC) governor Athanasios Orphanides has informed the House Ethics Committee that he could only take part in a scheduled session next month...
MPs complain of ‘information blackout’
By Elias Hazou Lawmakers on Tuesday complained of an ongoing ‘information blackout’ concerning the outflow of deposits in the midst of the 2013 banking meltdown....
‘Nothing incriminating’ on seven CBC hard drives, police say
Police returned seven hard drives to the Central Bank (CBC) on Friday after it seized them in late May for investigations into a leaked list...
Did the central bank withhold information that could have averted bail-in?
By Stelios Orphanides On Sunday January 20, 2013, roughly two months before a decision of the euro area finance ministers to allow the recapitalisation of...