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Cyprus voted on new laws to limit people from get all their money out of the banks quickly.
List of powers that could be imposed by Cyprus to its banks:
?Restrictions in daily withdrawals
?Ban on premature termination of time savings deposits
?Compulsory renewal of all time savings deposits upon maturity
?Conversion of current accounts to time deposits
?Ban or restrictions on non cash transactions
?Restrictions on use of debit, credit or prepaid debit cards
?Ban or restriction on cashing in checks
?Restrictions on domestic interbank transfers or transfers within the same bank
?Restrictions on the interactions/transactions of the public with credit institutions
?Restrictions on movements of capital, payments, transfers
?Any other measure which the Finance Minister or the Governor of Cyprus Central Bank see necessary for reasons of public order and safety
Cyprus Bank restructuring bill approved. Laiki, the nation's second-largest lender, will be split into a good bank and a bad bank. Cyprus adopted legislation allowing the government to split the island's failing lenders into good and bad banks. The law is likely to be applied first to Cyprus's second largest lender, Cyprus Popular Bank [Laiki], to restructure it without hurting small depositors.
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