FBME says activiation of deposit scheme ‘designed to protect CBC, not depositors’

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FBME says activiation of deposit scheme...
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FBME Bank said on Sunday that the Central Bank of Cyprus (CBC) had triggered the deposit guarantee scheme so that the supervisory body could claim to have fulfilled its duties to depositors “and evade further exposure for misconduct”.

The CBC announced on Saturday that after taking note of its own findings, FBME Bank Ltd-Cyprus Branch did not appear at present able to return deposits to customers for reasons directly related to its financial situation “and believes that it will not be able to do so in the near future, has proceeded to...


This article was automatically added to our system 10-4-2016

FBME says activiation of deposit scheme ‘designed to protect CBC, not depositors’


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Article Tags: activiation, deposit, scheme, designed, protect, depositors,