Bank of Cyprus converts portion of uninsured savings to equity

Cypriot lender Bank of Cyprus said on Sunday it had carried out a conversion of uninsured cash deposits in the bank into equity, one of the conditions of international lenders to offer the cash-starved island financial aid. The process, known as a ‘bail-in’, made depositors in the bank pay for it…

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Bank of Cyprus converts portion of uninsured savings to equity

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