Banks struggle to balance deposits
The role of negative interest rates – becoming an ever more prevalent reality – in reviving hard hit economies Deposits in Cyprus banks recorded...
European Central Bank
ECB prepares ‘bad bank’ plan for wave of coronavirus toxic debt
European Central Bank officials are drawing up a scheme to cope with potentially hundreds of billions of euros of unpaid loans in the wake of...
Co-op ceases being a bank after giving up licence
The Central Bank of Cyprus said on Wednesday that the European Central Bank (ECB) has now revoked the Cyprus Co-operative Bank’s banking licence which allowed...
Soros lobbies ECB for more eurozone integration, draws criticism
Billionaire investor and activist George Soros has met a European Central Bank director to argue for closer eurozone integration, prompting criticism from some EU lawmakers who fear...
ECB ‘to force banks to raise bad debt provisions’
The European Central Bank plans to ask euro area banks to set aside more cash to cover bad loans, making it prohibitively expensive for lenders...
Brexit banks set to avoid lengthy euro zone entry test
By John O’Donnell Banks in London that relocate operations to the euro zone after Brexit are likely to be spared a lengthy entry test by...
ECB annuls Brussels appointment after complaints of favouritism
By Francesco Canepa The European Central Bank has annulled the appointment of its new Brussels representative after staff complained Stephane Rottier, an advisor to chief...
ECB’s Draghi says looking at options to drive QE forward
European Central Bank President Mario Draghi said on Thursday the bank was looking at options to ensure it could pursue its unprecedented money-printing programme, with...
ECB facing gathering storm clouds but will hold fire for now
The European Central Bank is all but certain to keep rates firmly on hold on Thursday but will have to address an ever-growing list of...
Top German court clears ECB’s OMT scheme with minor limits
Germany’s Constitutional Court rejected on Tuesday a challenge of the European Central Bank’s emergency bond-buying scheme, placing only minor limits on the Bundesbank’s participation in...
Central Bank challenges ECB over NPLs
The Central Bank (CBC) has challenged the findings of the European Central Bank (ECB) regarding the status of restructured loans in Cyprus, the head of...
Door left open for depositors’ claims against EU
By Alper Ali Riza On April 21, 2016 the Advocate General Nils Wahl gave his opinion to the European Union’s Court of Justice over the...
Fitch says market access possible without QE, rating outlook positive
By Stelios Orphanides Fitch Ratings, one of the three main rating companies, said that Cyprus will not require support from the European Central Bank’s public...
ECB considers scrapping 500 euro note
The European Central Bank is examining ditching the 500-euro note, its president said on Monday, describing the note used by savers to hoard tens of...
Qatar’s QNB buys Greek NBG’s Finansbank for 2.7 bln euros
Qatar National Bank SAQ , the Gulf Arab region’s largest bank, reached an agreement with National Bank of Greece to acquire the latter’s entire 99.81...
‘It’s the economy, Stupid’
By Erol Riza The famous phrase which has been used many times since it was first uttered dates back to the 1992 presidential campaign of...
MPs review bank resolution fund
By Elias Hazou LAWMAKERS yesterday got a glimpse of a long-overdue bill creating a bank depositors’ guarantee fund and a bank resolution fund, legislation that...
ECB disappointed euro zone has not brought founding economies closer
The European Central Bank said on Wednesday that the euro zone’s founding members had diverged economically, a “disappointing” outcome that goes against the premise that...
Greek banks still waiting for approval to reopen on Monday
Greek banks are ready to re-open on Monday but they must first get permission from the central bank and the government, a senior banking source...
ECB raises Greek bank funding as Europe backs new loan (Update 4)
By Balazs Koranyi and John O’Donnell The European Central Bank raised its emergency funding for Greek banks slightly on Thursday in a step to help...