ECB emergency funding to Cypriot banks remains unchanged

The European Central Bank’s (ECB) emergency liquidity assistance (ELA) to Cypriot banks remained unchanged at €7.68 billion in October, figures released by Central Bank of Cyprus (CBC) show.

Bank of Cyprus, the island`s largest lender, remained at €7.68 billion after its reduction in September, when the bank paid €800 million after increasing its share capital with €1 billion.
Furthermore, according to figures, regualr refinancing operations also remained unchanged at €920 million.
The CBC`s assets in September reached €11.66 billion, with gold reserves, calculated at €429.61 million.
General government debt to the CBC stood at €1.29 billion.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.