articles | 31 August 2016

Cyprus' government funds rise to €1.9bn in July 2016

Cyprus’ government had at the end of July 2016 almost €1.9bn deposited at the Central Bank of Cyprus, up from €976.4m the month before, the bank said.

Also, total other claims on euro area credit institutions denominated in euro, which include emergency liquidity extended to banks, dropped to slightly above €2bn in July, from €2.4bn in June, the central bank said in a statement on its website.

Bank of Cyprus said that its outstanding emergency liquidity from the European Central Bank had dropped to €1.5bn.

The government, which in July issued a €1bn 7-year bond, decidedrecently to deposit €430m at Cypriot banks, as it pays an annual 0.4% interest on the amounts deposited at the Central Bank.

Source: Cyprus Mail

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