BoC’s ELA drops to €1.5b in August 2016

Bank of Cyprus reduced its outstanding emergency liquidity assistance to €1.5b or below at the end of August 2016, which is roughly €500m below the July figure, the Central Bank of Cyprus said.

At the end of August, the Central Bank’s total other claims on euro credit institutions denominated in euro, which include emergency liquidity assistance provided to Cypriot lenders from the European Central Bank, stood at €1.5 billion, the supervisory authority said in its monthly balance sheet statement on its website recently. In July, the amount was €2 billion.

The government’s deposits at the Central Bank of Cyprus fell in August to €1.6 billion from €1.9 billion the month before, the Central Bank said.

Bank of Cyprus’ outstanding emergency liquidity in August was at the lowest level since April 2013, when it peaked at €11.6 billion.

Source: Cyprus Mail

Cyprus Profile

articles | 21 September 2016