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All reports tagged with: "non-performing loans"

Foreclosures hurdle must be overcome

The foreclosures hurdle must be overcome before the Cyprus adjustment programme can be brought back on track, said Eurogroup president Jeroen Dijsselbloem following a Eurogroup meeting on Monday.

The major problem of non-performing loans

Banks in Cyprus could secure the collection of significant parts of loans that are currently not being serviced by managing their non-performing loans more efficiently as Dr George Mountis explains.

Collateral gap at €15 billion

Figures presented to parliament today by the Governor of the Central Bank of Cyprus reveal that there is a shortfall of almost €15 billion in the value of collateral offered to secure loans.

Cyprus programme review delayed

The European Commission has said that it cannot continue with the next review of the Cyprus adjustment programme following a decision by parliament to delay the Foreclosures Law.

Non-performing loans at 49 per cent

Non-performing loans (NPLs) in the Cypriot financial system stood at 49% of total loans at the end of October 2014, from 48.5% in the previous month, according to data released by the Central Bank of Cyprus.

Financial dispute mediation

Authorities will start accepting applications for the appointment of mediators in financial disputes from Friday, the agency tasked with the resolution of those disputes said on Tuesday.

Mass repossessions unlikely

Following decisions concerning the foreclosures law rumours have been circulating that banks in Cyprus will soon start mass repossessions and selling properties to recover money they are owed.

Non-performing loans €27.90 billion

Non-performing loans (NPLs) in the Cypriot financial system fell from €27.95 billion in July to €27.90 billion in August, approximately 175 per cent of Cyprus GDP according to the Cyprus Central Bank.

No foreclosure law no money

Eurogroup President Jeroen Dijsselbloem told a news conference that putting legislation in place to deal with the high level of non-performing loans (NPLs) is essential for Cyprus to return to financial health.

Non-performing loans at €29 billion

Non-performing loans (NPLs) in the Cypriot banking system continued their upward trend in July reaching €28.88 billion; 47.17 per cent of the total amount of loans according to the island’s Central Bank.

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