Cypriot bond yields tumble after stellar bond sale
By Dhara Ranasinghe Government bond yields in Cyprus tumbled on Wednesday and stood out as the star performer in eurozone debt markets, a day after a
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‘Generous’ Estia scheme still of concern, EU says
Some borrowers could interpret Estia handout as a reason to stop paying loans By George Psyllides Despite tightening the eligibility criteria of a subsidy scheme
Lenders call on Cyprus to maintain fiscal discipline and speed up reforms
The European institutions (EC, ESM) the ECB and the IMF have called on Cyprus to maintain fiscal discipline and accelerate reforms, especially those linked to
ECB starts buying Cypriot bonds after ratings upgrade
The European Central Bank said on Thursday it had restarted buying Cypriot bonds under its stimulus programme after an upgrade to the country’s credit rating,
Expected ECB rate hike, strong investor interest increased government’s bond appetite
By Stelios Orphanides The decision to go for a €1.5bn bond issue instead of the initially planned €1bn was dictated by a combination of factors,
Central Bank says S&P upgrade allows participation in ECB purchase programme
By Stelios Orphanides The Central Bank of Cyprus said that following the upgrade of Cyprus’ sovereign credit rating to BBB- by Standard and Poor’s, Cypriot
Nouy’s ‘non’ stuns committee probing Co-op failure
By Stelios Orphanides The chairwoman of the European Central Bank’s (ECB) Single Supervisory Mechanism (SSM) Daniele Nouy will not testify at the committee probing the
ECB, crisis of 2013, party favours blames for Co-op demise (update 2)
Former Cyprus Cooperative Bank board member Lampros Pieri on Tuesday said the Co-op fell victim to European aversion to state-owned banks, while former chairman Giorgos
ECB sticks with promise to end stimulus despite growth wobble
The European Central Bank reaffirmed that it will end its 2.6 trillion euro stimulus programme this year on Thursday, saying the risks from an unpredictable
Creditors repeat urge for reforms
Cyprus needs to take advantage of the current higher-than-expected economic growth to promote structural reforms that will help reduce risks to its financial system and
Cyprus will present its plans for an asset management company
Cyprus will present its plans for an asset management company (AMC) to the European Commission’s Directorate General for Competition as it seeks to boost efforts
SSM’s Nouy says banks need to take more action to tackle NPLs
By Stelios Orphanides Cypriot banks need to do more to tackle non-performing loans after already making “commendable” efforts and achieving “measurable progress” in recent years,
Branch, bank worker ratio in Cyprus among the highest in euro area
Cyprus last year, had the lowest ratio of population per bank branch and the second lowest ratio of population per bank employ after Luxembourg, figures
ECB supervisor calls for more efforts to reduce NPLs in Cyprus banks
By Gregoris Savva Daniele Nouy, Chair of the European Central Bank’s Supervisory Board, has called for additional and persistent efforts to bring about a sustainable
CBC to shift focus from restructurings to asset swaps
(Updates with background in six paragraph) By Stelios Orphanides The Central Bank of Cyprus (CBC) is considering issuing lenders new targets to reduce delinquent loans
Deutsche Bank boss calls on ECB to halt cheap money
Deutsche Bank chief executive John Cryan has called on the European Central Bank to change course on providing cheap money, warning he sees price bubbles
Hellenic adds €51m in provisions, expects Q2 €13m loss, says capital adequate (Update-1)
Hellenic Bank, the island’s third largest lender, has said that it expects to post a €13m after tax loss in April to June on a
ECB asks Cyprus to reconsider proposed law amendments
The European Central Bank said the Cypriot government should reconsider two proposed legislative amendments aiming at tasking the Central Bank of Cyprus (CBC) with disclosing
Other banks may also have to increase provisions, economist says
The Bank of Cyprus’s decision to increase its provisions for loan impairments on Monday was expected, said an economist, who did not rule out similar
A Banking revolution may open up possibilities
By Rennos Ioannides It doesn’t seem likely that the non-performing loans (NPLs) stock will be worked down to manageable, and economically sustainable, levels any time