Central bank says pay-out procedures for FBME depositors initiated

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Central bank says pay-out procedures for FBME...
 © BusinessMail 2020
By Stelios Orphanides

The Central Bank of Cyprus said that it has initiated a procedure to cover the payment of guaranteed deposits as provided by the law while an additional process at the court remains pending to concerning uninsured deposits in excess of €100,000.

“Obstacles in the pay-out of guaranteed deposits have been raised by FBME and as a result efforts are being made to lift them,” the Central Bank of Cyprus said in an emailed statement on Monday.

“With respect to amounts exceeding €100,000, a legal procedure to appoint a special...


This article was automatically added to our system 11-4-2016

Central bank says pay-out procedures for FBME depositors initiated


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Article Tags: central, procedures, depositors, initiated,