pcloudy.png
Wednesday July 17th, 2019 6:39PM

Bank officials warn Cyprus to avoid diluting bad loan laws

By The Associated Press

NICOSIA, Cyprus (AP) — Banking officials are warning Cypriot authorities to not dilute legislation aimed at helping banks on the east Mediterranean island nation from getting to grips with their huge bad loan problem.

A source familiar with the situation, who isn't authorized to speak publicly, said Wednesday that proposed amendments "point in the direction" of some watering down to the recently passed legislation that has enabled banks reduce their bad loans.

The source said banking officials are "flashing a light" to Cypriot authorities to avoid actions hindering the banks from further whittling down bad loans.

The ratio of bad loans in the Cypriot banking system stands at 30% of the total, against a 3.8% average in the 19-country eurozone.

In 2013, Cyprus had to be bailed after its banking system ran into trouble.

  • Associated Categories: Associated Press (AP), AP Online Headlines - Washington, AP Online Congress News, AP Business, AP Business - Industries, AP Business - Financial Services
© Copyright 2019 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
NBA's Silver says changes to rules on draft trades possible
NBA Commissioner Adam Silver says changes to draft-trade rules may be coming
11:32AM ( 10 minutes ago )
The Latest: Powell says pay gains too slow to lift inflation
Fed Chairman Powell says wage gains too slow to accelerate inflation
11:27AM ( 15 minutes ago )
Fans cheer World Cup champs as leaders on and off the field
Adoring fans lined New York City's Canyon of Heroes on Wednesday to praise the World Cup-winning U.S. women's national soccer team as athletic leaders on the field _ and as advocates for pay equity off it
11:26AM ( 15 minutes ago )
Associated Press (AP)
Acosta to take questions on his handling of Epstein case
Labor Secretary Alex Acosta will hold a press availability 'to make a statement and answer questions' regarding his handling of a sex trafficking case involving now-jailed billionaire financier Jeffrey Epstein
11:03AM ( 38 minutes ago )
The Latest: Powell says Facebook's Libra 'raises concerns'
Fed Chairman Powell says Facebook's Libra currency 'raises serious concerns'
10:58AM ( 43 minutes ago )
The Latest: Democrats criticize Trump's pressure on Fed
Democrats criticize Trump's pressure on Fed and Powell says he will serve out his term
10:43AM ( 59 minutes ago )
AP Online Headlines - Washington
EU Commission candidate von der Leyen grilled by legislators
European Parliament groups are grilling the German candidate for European Commission president before they take a vote on her appointment next week
7:31AM ( 4 hours ago )
Powell testimony to be studied for signs of coming rate cut
Powell's testimony to Congress will be studied for any signs of a coming rate cut
6:54AM ( 4 hours ago )
Virginia is now election battleground in fight over gun laws
Virginia is now a key battleground in the long-running fight over gun laws
6:35AM ( 5 hours ago )
AP Online Congress News
Sudan activists say internet restored after crackdown
Sudanese activists say internet service has been restored in the country, after a weekslong blackout imposed during a deadly crackdown earlier last month
10:51AM ( 51 minutes ago )
Financier in sex abuse case went from math whiz to titan
Jeffrey Epstein, facing sex-trafficking charges, has long been an enigma, his rags-to-riches ascent shrouded in mystery
10:36AM ( 1 hour ago )
US stocks move broadly higher as Fed chief signals rate cut
U.S. stocks are marching broadly higher in early trading, sending the S&P 500 index into record territory
10:34AM ( 1 hour ago )
AP Business
Turkey slams EU for backing Cyprus in drilling dispute
Turkey is rejecting European Union condemnation of its efforts to drill for gas in waters off the coast of Cyprus and says the bloc cannot be considered an impartial mediator for the divided island
5:43AM ( 5 hours ago )
Willie Nelson brings Farm Aid 2019 to Wisconsin's dairy land
Willie Nelson, John Mellencamp, Neil Young and Dave Matthews will headline Farm Aid 2019 when the music and food festival visits Wisconsin's dairy country in September
7:31PM ( 16 hours ago )
California air boss: open to compromise in mileage standoff
California's air pollution control boss says she's open to compromise with the Trump administration over its efforts to relax mileage standards
6:58PM ( 16 hours ago )
AP Business - Industries
US stock indexes turn mixed in morning trading
Major U.S. stock indexes are mixed in morning trading, leaving the broader market little changed after a two-day losing streak
11:32AM ( 1 day ago )
US stocks fall in early trading, extending recent losses
Technology and industrial companies are helping to pull stocks lower on Wall Street in early trading, extending losses from a day earlier
10:18AM ( 1 day ago )
Powell says bank stress tests need to keep evolving
Fed Chairman Powell says annual bank stress tests, while successful, will need to keep evolving
9:07AM ( 1 day ago )
AP Business - Financial Services
NBA's Silver says changes to rules on draft trades possible
NBA Commissioner Adam Silver says changes to draft-trade rules may be coming
11:32AM ( 10 minutes ago )
The Latest: Powell says pay gains too slow to lift inflation
Fed Chairman Powell says wage gains too slow to accelerate inflation
11:27AM ( 15 minutes ago )
Fans cheer World Cup champs as leaders on and off the field
Adoring fans lined New York City's Canyon of Heroes on Wednesday to praise the World Cup-winning U.S. women's national soccer team as athletic leaders on the field _ and as advocates for pay equity off it
11:26AM ( 16 minutes ago )
Ukraine: Chernobyl's radioactive dust shelter unveiled
A structure built to confine radioactive dust from the nuclear reactor at the center of the 1986 Chernobyl disaster is up and running
11:14AM ( 28 minutes ago )
The Latest: Rouhani leaves door open for diplomacy, dialogue
Iran's President Hassan Rouhani has told France's presidential envoy that Tehran has left the door open for diplomacy on the 2015 nuclear deal
11:13AM ( 29 minutes ago )