CYPRUS says insurance firm deposits to take losses

24 April 2013 —
Cyprus' central bank says all insurance firm deposits in the bailed-out country's second largest bank will now take a loss of 27.5 per cent.

The bank also said late on Sunday that the savings of unregistered financial companies, charities and some educational institutions kept in the Bank of Cyprus will also take an identical loss, but only on deposits of over 100,000 euros (USD131,150).

Read the full story on  economictimes.com.
CYPRUS says insurance firm deposits to take losses
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