Reuters: Regulatory News: UPDATE 1-Cyprus capital controls to be "loose" but island-wide

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Cyprus capital controls to be "loose" but island-wide Mar 26th 2013, 16:27 Tue Mar 26, 2013 12:27pm EDT NICOSIA, March 26 (Reuters) - Capital controls imposed to avert a run on banks in Cyprus after a painful EU rescue plan will be "loose" but will apply to all banks on the island, the Central Bank governor said on Tuesday. "We aim for some restrictions which, in the words of the president, will be loose," Cyprus Central Bank governor Panicos Demetriades said. He said the measure would apply to all banks based on the island. Demetriades said the restrictions would be "temporary" but would not say how long they would last. He said authorities were doing "all they could" to ensure banks reopen on Thursday, as announced late on Monday. Banks have been closed for more than week to prevent a run on deposits. The two banks at the centre of the financial crisis -- Bank of Cyprus and Cyprus Popular Bank -- are currently limiting ATM withdrawals to 100 euros a day.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions