On January 30 2014 the board of directors of the Bank of Cyprus
Public Company Ltd approved two important decisions, thereby
meeting the expectations of its depositors and the general public
in Cyprus for enhancing liquidity in the economy.
The bank's board of directors has decided to release the
six-month time deposits that were blocked under the decrees
relating to the recapitalisation of the bank in July 2013. The
deposits matured on January 31 2014. Despite the bank's right
to automatically renew these deposits for another six months, in
accordance with the relevant decree, the board of directors has
released the deposits, following consultations with the Ministry of
Finance and the Central Bank of Cyprus. The released funds will be
subject to the general restrictive measures applicable to the
Cypriot banking system.
