Plans to streamline banks’ contributions to resolution funds

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Plans to streamline banks’ contributions to...
 © CyprusMail 2019
The government has tabled to parliament a new bill redistributing commercial banks’ contributions to resolution funds.

Cypriot banks currently pay into two funds, a national bank depositors’ guarantee fund, and the Single Resolution Fund (SRF) of the euro area.

The bill aims to deduct lenders’ contributions to the SRF from their contributions to the national fund.

As heard in parliament on Monday, Cyprus is the only country whose banks contribute to two resolution funds. Banks in the other eurozone members pay only into the SRF.

Under the...


This article was automatically added to our system 3-7-2017

Plans to streamline banks’ contributions to resolution funds


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Article Tags: plans, streamline, banks, contributions, resolution, funds,