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All reports tagged with: "restructuring"

€12 billion non-performing loans restructured

Cypriot banks have restructured €12 billion of their non-performing loans as of April 2014, more than a quarter of their total loan portfolios of €44 billion, according to the Association of Cyprus Banks.

Bank of Cyprus reviews restructuring plans

In an exclusive interview with Reuters, Bank of Cyprus CEO John Hourican said that the bank is reviewing its restructuring plans that could result in a “bad bank” for its troubled assets.

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.

Debt relief or foreclosures?

The debate continues as to whether a debt relief programme should be introduced to assist those who can no longer afford the loan repayments on their first home to avoid foreclosure.

You can’t produce a baby in one month

Warren Buffet’s quote “You can’t produce a baby in one month by getting nine women pregnant” is an excellent metaphor of what Cyprus needs most; patience. Pavlos Loizou explains.

Bank of Cyprus loan restructuring appeals

Borrowers wishing to restructure their credit facilities with the Bank of Cyprus may complete a Submission of Appeal on Restructuring Form and return it to the bank by post or email.

Loan rate cuts are a step in the right direction – BUT

The recent announcement by the island’s ‘big three’ banks to lower interest rates are a step in the right direction, but problems remain and these rate reductions are not enough as George Mountis explains.

Multiple creditors & foreclosures in Cyprus

A new directive for handling customers’ debts has been issued by the Central Bank; however foreclosing on non-performing real estate loans and evictions is not in anyone’s interests.

A simple warning on loan restructuring

Loan restructuring is meant to preserve value and rescue good loans that are under temporary stress; they are not a ‘trick’ to rescue bad businesses that were unable to repay their loans in the time of plenty.

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