Largest depositors in Cypriot banker Bank of Cyprus are expected to receive shares in the bank worth just 37.5% of their deposits over 100,000 euros, the Cypriot central bank said in its confirming statement.
Bank of Cyprus said in a decree that there are no interested attracted from about 22.5% of deposits over 100,000 euros. There will still be interest in the remaining 40% but will not receive repayment unless the bank gets stability, the central bank added.
The people who have knowledge of the terms made confirmation on the details of the plan of the central bank told Reuters.
Officials at Bank of Cyprus were not available to comment on the matter.
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