Banks urged by ECB to activate business continuity plans
Preventive measures and business continuity plans were activated in Cypriot banks after the detection of confirmed cases of coronavirus in Cyprus, it was reported on...
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Effects of negative and ultra-low interest rates
In response to ECB accommodative monetary policies and persistently high levels of excess liquidity, Cyprus banks have continually effected reductions in interest rates By Leslie...
Cyprus prepares for new world order: negative interest rates
From March 3, corporate customers will pay for their cash deposits By Kyriacos Iacovides NEGATIVE interest rates by which a bank charges for cash...
Economic growth decelerating says EC/ECB report
While Cyprus’ economy remains strong, economic growth is gradually decelerating, according to the findings of a report from European Commission staff and the ECB. The...
North to issue special zero-euro note to honour Fazil Kucuk
A special euro note bearing the portrait of Dr Fazil Kucuk, the first and only Turkish Cypriot Vice President of the Republic of Cyprus has...
Addressing inefficiencies in justice system ‘key to improving business environment’
Addressing inefficiencies in the justice system in Cyprus is key for improving the business environment and the enforcement of claims, the European Commission said on...
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...
‘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...
