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All reports tagged with: "banking system"

Cyprus banking idiosyncrasies laid bare

The PIMCO due diligence report on the island’s banking system reveals what the company refers to as idiosyncrasies that differentiate Cyprus from other international banking systems.

Extra holiday to pass legislation on bank deposits

President Anastasiades may need extra time to get the deeply unpopular levy on Cyprus bank deposits through parliament and may have to declare Tuesday & Wednesday as public holidays to stave off a possible run on the banks.

Banking system comes under scrutiny

The promotion of foreign currency loans without advising borrowers of the currency risks is one of the topics being investigated by the House Institutions Committee as it scrutinises the functioning of the banking system.

Vanishing Cyprus: banks bailout – the big lie!

One day, it may be necessary for Cyprus to pull out of the euro to regain its social and economic independence as the “one-size-fits-all” policy has not worked for most EU member states.

Cyprus ratings lowered as bailout talks continue

Ratings agency Standard & Poor’s has cut Cyprus’ long-term sovereign credit rating a notch pushing it deeper into junk territory and placed it in on CreditWatch with negative implications.

With our pants down

Turbulence brings change and with that change come opportunities to improve the Cyprus banking system and the Island’s economy. But is society ready for the difficult road ahead and is its leadership up to the required standard?

The world has turned upside down

The country makes its living from tourism and financial services but, with banking being six to eight times the country’s GDP, there are systemic risks given the size of domestically owned banks and their exposure to Greece.

Popular bank may need government bailout

The Cyprus government may have to pump up to 2.5 billion Euros into the Popular Bank to cover its losses resulting from the write-down on its holdings of Greek Government bonds according to newspaper reports.

Cyprus one of five Eurozone nations cut by Fitch

Following its warning a week ago, Fitch cut the sovereign credit ratings of Cyprus and five other Eurozone nations yesterday, indicating there was 50 percent chance of further cuts in the next two years.

Moody’s downgrades Cyprus’ bond ratings

Moody’s Investors Service has downgraded Cyprus government bond ratings to Baa3 from Baa1 on the very high likelihood that the Cypriot government will need to contribute to the recapitalisation effort of the banking system.

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