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All reports tagged with: "central bank of cyprus"

Non-performing loans continue to mount

Latest information released by the Cyprus Central Bank shows that non-performing loans continue to mount with property developers having amassed billions of debts that they are unable to repay.

Cyprus Central Bank circular on loan restructuring

The Central Bank of Cyprus has issued a circular to the commercial banks following much criticism about their practices for restructuring the loans of those having difficulty in maintaining repayments.

Banks and borrowers urged to cooperate

Central Bank of Cyprus has issued a Code of Conduct to indicate how banks should handle borrowers who are facing financial difficulties, in a bid to make loans more sustainable and avoid mass repossessions.

Stricter procedures for granting loans

Under a draft directive issued by the Central Bank of Cyprus, which is still under discussion, banks must consider a borrower’s ability to repay a loan rather than the value of its underlying collateral.

Central Bank issues stark warning on foreclosures

The Central Bank of Cyprus has issued a stark warning to banks to change their attitudes towards borrowers in efforts to prevent the seizure and subsequent sale of primary residences.

Redefinition of non-performing loans

Changes to the definition of non-performing loans to comply with European and IFRS accounting standards are necessary to restore Cyprus’ credibility as a regional financial hub.

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.

Property price falls reach two-year high

The Cyprus Central Bank’s Residential Property Price Index for Q2 2012 published earlier today reports that house prices in Cyprus fell abruptly over the quarter recording their sharpest fall since 2010.

House prices drop, bad loans rise

In April we reported that the price of property in Cyprus had fallen by more that nine percent during 2010; our figures were based on the RICS (Cyprus) Property Price Index. In its latest Economic Bulletin, the Central Bank paints a somewhat rosier picture.

Developers meet with Central Bank Governor

The Cyprus Land and Building Developers Association has met with the Central Bank to discuss financing problems and the Title Deed legislation currently before a Parliamentary Committee.

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