Investor interest in loans from Cypriot banks remains elusive, CySEC says

The head of Cyprus’s Securities and Exchange Commission (CySEC) Demetra Kalogerou said that the has been no investor interest to buy loans from Cypriot banks after the parliament passed the necessary law, the Cyprus News Agency reported on Monday.

Kalogerou was addressing members of the finance committee which debated in Nicosia on Monday on a proposed amendment that will remove asset management companies from the supervision of the Central Bank of Cyprus on the grounds that they are already supervised by CySEC.

The parliament passed the law on the sale of loans in late 2015 in order to help banks reduce their stock of non-performing loans in their balance sheets.

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.