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All reports tagged with: "cyprus banks"

Doubts over new moves on Title Deeds

Questions remain over how the gentlemen’s agreement enabling ‘trapped buyers’ to get the Title Deeds to properties they purchased and paid for in good faith will work in practice; the Association of Cyprus Banks has yet to respond.

How can Cyprus banks justify their action?

Cyprus banks are blocking trapped property buyers getting Title Deeds, while in Spain the Supreme Court has ruled that the banks must refund money to purchasers whose homes were never completed.

Banks playing a dirty game

A number of banks have obtained temporary court orders preventing people who bought property in Cyprus from receiving Title Deeds under the provisions of ‘trapped buyers’ law claiming they knew nothing about the sale.

Swiss Franc loan solution sought

The Cyprus Central Bank is going to investigate the impact on the banks in the event that they convert loans denominated in Swiss Francs, which amount to €1 billion, into Euro.

Clampdown on bank profiteering

A bill aimed at preventing banks profiteering by increasing their profit margins arbitrarily is being prepared by the Ministry of Finance following a recommendation by the Cyprus Central Bank.

Cheap as chips or curry and chips?

Cyprus is the curry and chips after a long night at the pub and is lucky to have entered the crisis last and at a point where the US and Western European economies have stabilised from the post 2008 turbulence.

Living in denial doesn’t mean forgetting to live

Cypriots are still going round drinking coffee, having dinner with friends, and booking holidays, having a hard time appreciating what has happened – and what will happen in the months ahead.

PIMCO delivers final report

The Central Bank of Cyprus has announced that the US investment consultancy firm PIMCO has delivered its final report on the due diligence review of the Cypriot financial sector.

Banks should offload distressed properties

The banks need to offload billions of Euros of property left on their books by bankrupt developers and offer 100 percent mortgages spread over 40 years, similar to those being offered in Spain.

Cyprus banks try to protect themselves

The Bank of Cyprus and the Hellenic Bank will try to absorb half a billion euros from their shareholders in the next few months in efforts to protect their balance sheets from the Greek crisis and the unfavourable conditions in the domestic market.

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