CBC calls for swift credit to “avoid credit crunch” due to Covid-19

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CBC calls for swift credit to “avoid credit...
 © In-Cyprus 2020
The Central Bank of Cyprus in a circular issued on Tuesday called on Cypriot banks to provide swift credit to companies, self-employed persons and natural persons affected by the coronavirus epidemic in a bid to avoid a “credit crunch.”

“The aim of the circular is to facilitate the provision of liquidity to the economy to cover operating needs through the utilisation of temporary monetary and supervisory relaxation measures decided by the ECB,” the CBC said, adding that the provision of new lending “is necessary, to limit the impact of the coronavirus on the economy.”

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This article was automatically added to our system 31-3-2020

CBC calls for swift credit to “avoid credit crunch” due to Covid-19


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Article Tags: calls, swift, credit, avoid, credit, crunch, covid,