CBC urges banks to support businesses and households affected by COVID- 19 spread
The Central Bank of Cyprus (CBC), announced Monday that it expects banks to show flexibility in order to support both businesses and households that are expected to be adversely affected by the spread of COVID- 19, after the latest European Central Bank `s (ECB) decisions.
The CBC notes that the ECB`s decisions at the ECB Governing Council meeting, with the participation of Cypriot Governor Constantinos Herodotou, have resulted to additional liquidity in the eurozone`s financial system, expanded its QE programme that contribute to the maintenance of favorable liquidity conditions and the temporary release of capital and liquidity buffers.
It is also noted that the decisions announced by the ECB’s Single Supervisory Mechanism (SSM) created a capital buffer for Cypriot systemic banking institutions amounting to €1.
(CNA)
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The CBC notes that the ECB`s decisions at the ECB Governing Council meeting, with the participation of Cypriot Governor Constantinos Herodotou, have resulted to additional liquidity in the eurozone`s financial system, expanded its QE programme that contribute to the maintenance of favorable liquidity conditions and the temporary release of capital and liquidity buffers.
It is also noted that the decisions announced by the ECB’s Single Supervisory Mechanism (SSM) created a capital buffer for Cypriot systemic banking institutions amounting to €1.
(CNA)
*The full text of the news item is available in the paid version of the CNA web service. Subscription Form
*CNA reserves the copyright to the news stories it files, which is granted to subscribers for specific use only.
from Cyprus News Agency
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