Connect with us

Hi, what are you looking for?

Athens Times

Bank of Cyprus: “pay off” the ELA

The full repayment of the funding from the Emergency Liquidity mechanism (ELA) announced the…the Bank of Cyprus, which since March 2013 has made a total of 11.4 billion. ευρώΣύμφωνα with the announcement, this development is an important milestone for the bank and contributes to the recovery of the position of the international market. As noted also, the repayment of the ELA was achieved through a series of actions, such as:deleveraging of the main asset items increase in the share κεφαλαίουη increase of καταθέσεωνη repayment and the termination of state ομολόγωνη conversion of assets to assets eligible as collateral for eurosystem credit operations.The managing director of the bank, John Χούρικαν, to the view that the repayment of the ELA will further strengthen confidence in the Bank .Source

The full repayment of the funding from the Emergency Liquidity mechanism (ELA) announced the…
Bank of Cyprus, which since March 2013 has made a total of 11.4 billion. euro
According to the announcement, this development is an important milestone for the bank and contributes to the recovery of the position of the international market. As noted also, the repayment of the ELA was achieved through a series of actions, such as:
the deleveraging of the main assets
the increase of the share capital
the increase in deposits
the repayment and the maturity of government bonds
the conversion of assets to assets eligible as collateral for eurosystem credit operations.
The managing director of the bank, John Χούρικαν, to the view that the repayment of the ELA will further strengthen confidence in the Bank .
Source

You May Also Like

Advertisement