articles | 18 July 2016

BoC ELA drops to €2.4bn after repays €0.4m in June 2016

Bank of Cyprus’ outstanding emergency liquidity fell in June 2016 to €2.4bn or below compared with €2.8bn in May, after it repaid more than €9bn over the past three years, the Central Bank of Cyprus said.

This emerged from the Central Bank’s summary monthly balance sheet statement on its website which showed that “other claims in euro against euro area financial institutions” stood in June at €2.4bn.

Bank of Cyprus inherited the vast majority of its emergency liquidity assistance from Cyprus Popular Bank, also known as Laiki, after the 2013 banking crisis. The two banks’ combined emergency liquidity peaked in April 2013 at €11.6bn.

In June, the government had a total of €976,392 deposited at the Central Bank compared to €1.1bn in May, according to the statement.

Source: Cyprus Mail

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