Cyprus Popular Bank To Be Shuttered (UPDATE: Central Bank Denies)

Tyler Durden's picture

UPDATE: Cyprus Central Bank says hasn't been informed of closure (and then back-pedals)...

  • *CYPRUS CENTRAL BANK HASN'T BEEN INFORMED, TAKEN SUCH DECISION
  • *CYPRUS CENTRAL BANK SAYS REORGANISATION NOT SAME AS CLOSURE

 

Refuting earlier comments from the regulator that Cyprus Popular Bank would not be shuttered, CYBC is reporting (following the failure to sell it to the Russians) that the bank is to be shut down, split into good-bank-bad-bank, and that deposits under EUR100,000 will be protected.

  • *CYPRUS POPULAR BANK TO BE SHUT DOWN, STATE-RUN CYBC SAYS
  • *CYPRUS POPULAR BANK TO BE SPLIT IN GOOD, BAD BANKS: CYBC
  • *CYPRUS POPULAR BANK ASSET PROCEEDS TO BE RETURNED TO DEPOSITORS
  • *CYPRUS POPULAR BANK DEPOSITS OF LESS THAN EU100,000 GUARANTEED

Of course, we await the re-refutation but for now it seems the latest news trumps the regulators 'lies' earlier.