Central Bank agrees 47.5% Bank of Cyprus haircut with creditors
Cyprus's central bank agreed a 47.5 percent haircut with international creditors on Monday on deposits exceeding 100,000 euros in the Bank of Cyprus in an attempt to recapitalise it.
(AFP) Cyprus's central bank agreed a 47.5 percent haircut with international creditors on Monday on deposits exceeding 100,000 euros in the Bank of Cyprus in an attempt to recapitalise it.
"The Central Bank has reached a definite percentage of the bail-in at 47.5 percent," deputy government spokesman Victoras Papadopoulos said in a statement.
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