Final Cyprus deal: Laiki bank accounts over 100k gone
Final Cyprus deal:
None of the measures will affect desposits below €100,000. Except the temporary withdraw limits (not yet defined, for the moment at 100 eur a day for ATM).
Note that deposits below €100,000 of Popular Bank of Cyprus (Laiki) will be moved to the Bank of Cyprus, the "good bank".
For deposits with €100,000 or above, it depends on what bank:
1) Popular Bank of Cyprus (Laiki) ones will be frozen and used to resolve debts (levy: early official was 40%+, informed bloggers say 90%), and the bank will be closed, all employees fired. This was the second largest bank, the "bad bank".
2) Bank of Cyprus: the calculations "will be done", % of levy not known or announced yet. Early options was 20%, 25% etc. This is the largest bank, the "good bank".
Other banks: unaffected?
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