articles | 17 November 2014

ECB emergency funding to Cypriot banks remains unchanged

The European Central Bank’s (ECB) emergency liquidity assistance (ELA) to Cypriot banks remained unchanged at €7.68 billion in October 2014, figures released by Central Bank of Cyprus (CBC) show.

Bank of Cyprus, the island’s largest lender, remained at €7.68 billion after its reduction in September, when the bank paid €800 million after increasing its share capital with €1 billion.

Furthermore, according to figures, regular refinancing operations also remained unchanged at €920 million.

The CBC’s assets in September reached €11.66 billion, with gold reserves, calculated at €429.61 million.

General government debt to the CBC stood at €1.29 billion.

Source: Cyprus Mail

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