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Banking crisis in Cyprus: Q&A on the new banking laws

Company: Harneys

Harneys case study

Category: Credit Risk

Published: 04 April 2013

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Overview

Questions considered regarding Cyprus in the context of the current banking crisis include: what is the maximum amount of coverage for each depositor, are deposits held in the name of a particular person with different banks considered to be separate deposits for the purpose of calculating the compensation payable from the Deposit Protection Fund, what haircut is applicable to bank deposits held with credit institutions other than the Bank of Cyprus, which deposits are covered by the Deposit Protection Fund, Have any changes to the Cyprus tax system been made and are corporate structures affected by the current situation in Cyprus.

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