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EC urges Title Deeds, NPL & other reforms

The European Commission has once again recommended that Cyprus takes measures to ensure reliable and swift systems for the issuance of Title Deeds & speed the reduction of non-performing loans.
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Discussion on old mortgages bill postponed

Discussions on the bill seeking to exempt pre-2014 mortgages from the foreclosure laws have been postponed by the house finance committee while it waits for the bills related to the issue of non-performing loans (NPLs).
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Reduce non-performing loans by 40% in 2018

The Finance Ministry's 'Stability Programme 2018 – 2021' outlines a three-pronged strategy to address the high levels of non-performing loans (NPLs) in the banking sector that pose a risk to the economy.
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Bill to exempt old mortgages from foreclosure

Officials from the government and the Cyprus Central Bank have warned that a bill seeking to exempt pre-2014 mortgages from the foreclosure laws would wreak havoc on banks' balance sheets.
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Non-performing loans (NPLs) initiative

Following comments from the troika on the extremely high levels of non-performing loans (NPLs) the Cyprus government is preparing proposals to improve the insolvency and foreclosure laws.
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Cyprus construction NPLs highest in Europe

The percentage of non-performing loans (NPLs) linked to the Cyprus construction industry are the highest in Europe according to a press release issued by the European Banking Authority.
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Call to reduce non-performing loans

The International Monetary Fund (IMF) has called on the Cypriot authorities to amend the foreclosures and insolvency laws to tackle the very high level of non-performing loans (NPLs).
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Measures to tackle non-performing loans

The Commission is today proposing an ambitious and comprehensive package of measures to tackle non-performing loans in Europe, capitalising on the significant progress already made in reducing risks in the banking sector.
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Cyprus plans asset management company

Nearly five years after the troika of Cyprus’ international lenders proposed that the country establish an asset management company to help reduce the high level of NPLs, Cyprus will present plans for an AMC in Brussels next week.
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NPLs remain problematic says IMF

The high level of non-performing loans (NPLs) remain a problem for the Cyprus banking sector despite the strong growth boosting the island's economy says the IMF representative in Cyprus.
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Non-performing loans stand at €21.9bn

Non-performing loans (NPLs) in the Cypriot banking system currently stand at €21.9 billion, or 44 per cent of total loans and 120 per cent of economic output according to the governor of the Central Bank.
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More efforts needed to reduce NPLs

Cyprus needs to put more efforts into reducing the non-performing loans (NPLs) of the Cyprus banks, which "remain at extremely high levels" said the Chair of the ECB's Supervisory Board.
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Cyprus faces “sizeable downside risks”

Following its mission to Cyprus the International Monetary Fund said that "sizeable downside risks" still exist, citing an extremely high private sector debt and a high proportion of non-performing loans (NPLs).
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Bank of Cyprus must sell NPLs

The Bank of Cyprus must include the sale of non-performing loans (NPLs) in its toolkit if it is to achieve its ambitious target to halve their ratio to 20 per cent by 2019 says Moody's Rating Agency.
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Hellenic Bank sells non-performing loans

The Hellenic Bank has sold its non-performing loan (NPL) and real estate management business, to APS Debt Servicing Cyprus Ltd, a member of the APS Holding a.s. group of companies.
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Ten years to reduce NPLs

The Cyprus Central bank expects it will take up to 10 years for non-performing loans (NPLs) to drop to manageable levels at the current rate of economic growth, Chrystalla Georghadji told reporters on Friday.
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Cyprus needs to accelerate debt reduction

The International Monetary Fund (IMF) has called on Cyprus to speed up reductions in public and private debt to rebuild confidence and deliver balanced, sustainable growth, and support balance sheet repair.
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Cyprus: NPLs remain “very high”

Following the second post-programme surveillance mission to Cyprus, the European Commission and the European Central Bank reports that NPLs remain "very high" and that "reform momentum has weakened noticeably."
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Non-performing loans at 47 per cent

Non-performing loans in the Cypriot banking system stood at 47% of total loans at the end of December 2016; a fall of €3.7 billion in two years to €23.7 billion according to data released by the Central Bank of Cyprus.
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Standard & Poor’s raises Cyprus rating

Ratings agency Standard & Poor's has raised its foreign and local currency long-term sovereign credit ratings on the Republic of Cyprus to 'BB+' from 'BB' and has affirmed its 'B' foreign and local currency short-term sovereign credit ratings.
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