No aftershocks for Cyprus banks after Credit Suisse rescue

No systemic threat, but interest rate hike is a risk The Cyprus banking system will not be feeling any aftershocks of the collapse of major US banks, and most recently the troubled Credit Suisse, which needed to be rescued by banking giant UBS, insist authorities and economists. Earlier in the week, the island’s central bank governor, Constantinos Herodotou met with President Nikos Christodoulides, with both officials saying the island’s banking system is “resilient and will continue to support the real economy”. However, the fact...