Marfin expects increase of liquidity of €600m if CB draft plan approved
26/6/2008 14:31
The Central Bank of Cyprus announced its decision to reduce the minimum liquidity ratio in Euro denominated currency from 25% to 20%. This change will result to a release of €400 million additional liquidity for Marfin Popular Bank.
At the same time, the Central Bank of Cyprus submitted a draft plan for the liquidity requirement in foreign currencies (all non-euro currencies). The most important modification of this plan is the reduction of the minimum liquidity requirement from 75% to 70% for all foreign currency in Cyprus.
The aforementioned decisions subject to the latter’s approval are expected to create €600m additional liquidity for Marfin Popular Bank, which can be used for further expansion of the Bank’s loan book.
At the same time, the Central Bank of Cyprus submitted a draft plan for the liquidity requirement in foreign currencies (all non-euro currencies). The most important modification of this plan is the reduction of the minimum liquidity requirement from 75% to 70% for all foreign currency in Cyprus.
The aforementioned decisions subject to the latter’s approval are expected to create €600m additional liquidity for Marfin Popular Bank, which can be used for further expansion of the Bank’s loan book.
