YEREVAN, April 26, /ARKA/. Cypriot banks lost 1.8 billion euros ($2.4 billion) in deposits in March, when the country agreed to tax bank deposits as part of a European Union-led bailout. Deposits decreased 3.9 percent from February, when they dropped 2.2 percent, banki.ru reported citing the latest data from the European Central Bank.

That’s the 10th straight decline. Cypriot deposits in March totaled 44.6 billion euros, down from 46.4 billion euros the previous month. Cypriot officials, euro-area finance ministers and the ECB agreed mid-March on an unprecedented measure to impose a levy on deposits of less than 100,000 euros under a 10 billion-euro bailout. The plan was ditched after the country’s parliament rejected it, and a new accord was reached imposing a tax only on deposits above 100,000 euros. -0-

Categories: Banks @en, Economy @en, General news, News | Comments Off on Cyprus bank deposits decreased by almost 4 percent

Tags: Banks, Cyprus, Deposits, ECB

Read more

IMF Chief Christine Lagarde suggests that the eurozone should go on easing monetary and credit policy, banki.ru reported today

Categories: Economy @en, General news, News, News of the hour | Comments Off on Lagarde: ECB should ease monetary and credit policy

Tags: ease, ECB, Lagarde

Read more

The European Central Bank’s Governing Council decided at its monthly monetary policy meeting Thursday to leave its key refinancing rate unchanged at 0.75%, RIA Novosti reported

Categories: Banks @en, General news, News, News of the hour | Comments Off on ECB leaves refinancing rate at 0.75 percent

Tags: ECB, RATE

Read more

German Chancellor Angela Merkel told German lawmakers today morning that Cyprus’s proposition to nationalize pension funds in order to prop up its finances was unacceptable, RBC reported. She insisted that Cyprus should rather concentrate on debt sustainability and bank restructuring in order to secure a bailout

Categories: Banks @en, General news, News | Comments Off on EU, ECB and IMF might have rejected Cyprus plan to create solidarity fund

Tags: Cyprus, ECB, EU, IMF

Read more

European Central Bank board member Joerg Asmussen said Monday that Cyprus can adjust its bailout as long as it does not reduce its financial contributions, banki,ru reported citing France Press

Categories: Banks @en, General news, News | Comments Off on ECB: Cyprus can adjust its bailout

Tags: Cyprus, ECB, Eurozone

Read more

The European Central Bank left the interest rate unchanged at 0.75% for the seventh straight month following its monthly meeting. The unchanged benchmark interest rate was as expected by Bloomberg surveyed analysts. Euro traders will now look forward to the press conference with ECB President Draghi, which is scheduled to take place at 13:30 GMT

Categories: Banks @en, General news, News, News of the hour | Comments Off on ECB keeps interest rate at 0.75% for seventh month, dailyfx reports

Tags: ECB, Economy @en, EURO

Read more

Europe clinched a deal on Thursday to give the European Central Bank new powers to supervise euro zone banks from 2014

Categories: Banks @en, General news, News, News of the hour | Comments Off on Europe deepens union with ECB as chief bank watchdog

Tags: bank @en, ECB

Read more

The European Central Bank (ECB) on Thursday left its key interest rate unchanged at a record-low 0.75% for a fifth straight month

Categories: Banks @en, General news, News, News of the hour | Comments Off on ECB chairman says economic activity to recover in 2013

Tags: ECB, Europe

Read more

Mario Draghi is leading the European Central Bank into a new policy era, Reuters agency reports

Categories: Economy @en, General news, News, News of the hour | Comments Off on Draghi opens door to new ECB policy territory

Tags: ECB

Read more

Options to tide Greece past the looming redemption of its bonds held by the European Central Bank

Categories: Economy @en, General news, News, News of the hour | Comments Off on Greek options on repaying ECB bonds said to include bills, delay

Tags: ECB, Greece

Read more