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All reports tagged with: "banking system"

Government to support banks in financial crisis

The Council of Ministers has approved three draft bills designed to shore up the banks that are heavily exposed to Greek government bonds and to establish an independent financial stability fund.

Vanishing Cyprus: bank domination

In this article from his Vanishing Cyprus series, Andreas Chrysafis considers the developing banking situation and asks the question which government dares to do the right thing?

Fitch cuts Cyprus rating on exposure to Greek debt

Fitch ratings agency has cut Cyprus’ sovereign credit rating from AA- to A- and is warning of another possible downgrade because of its banking sector’s large exposure to debt-laden Greece.

Cyprus rating cut on banks’ Greece exposure

Rating agency Standard and Poor’s downgraded Cyprus’ sovereign credit rating by one notch and set the outlook as ‘negative’ as a result of increasing vulnerabilities in the Island’s banking system.

Banks face more serious risks says CPAG

According to CPAG the banks in Cyprus are facing more serious risks than those reported last week by the rating agency Moody’s.

Moody’s: Cyprus property market remains a risk area

The Island’s once booming property market “remains a risk area with weak demand and unclear growth prospects” according to Moody’s, the international ratings agency.

Cyprus welcomes EU-stress test results

In a recent press release, the Cyprus Ministry of Finance welcomed the results of the EU-stress tests recently carried out on 91 credit institutions throughout the member states of the European Union

Marfin Popular and Bank of Cyprus to face CEBS tests

The Marfin Popular Bank and the Bank of Cyprus will be part of an EU-wide stress testing exercise to be undertaken by the CEBS (Committee of European Banking Supervisors) before the end of the month.

Moody’s cuts Cyprus’ two main bank ratings

Moody’s has downgraded the deposit and debt ratings of the Bank of Cyprus and the Marfin Popular Bank. According to their report “The country’s real estate market, which is a significant component of the banks’ loan books, remains a risk area with unclear growth prospects and weak demand”.

Foreign demand shows no signs of recovery

Although the number of properties being sold in Cyprus has staged a marginal recovery, external demand from non-Cypriot buyers continues to fall.

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