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All reports tagged with: "foreign currency"

Central Bank blasted on FX loans

The Central Bank of Cyprus has been blasted by the Borrowers Association accusing it of not regulating the banks correctly when they were granting loans in Swiss francs and other foreign currencies.

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.

Courts can amend foreign currency loans

Advocate General Niels Wahl of the EU Court of Justice has advised that national courts can force banks to replace unfair contract terms for customers holding foreign-currency loans.

Pitfalls increase in Cyprus property disputes

Defective powers of attorney, time limits for making claims and write-offs are all thrown into the arena in the next phase of the long-standing Cyprus property disputes between banks and purchasers.

Rules to limit risks for home buyers

In a move that has come too late to help those who bought property in Cyprus with home loans denominated in Swiss Francs, the European Parliament has outlined rules to limit risks for home buyers.

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