Cyprus banks prepare for stress tests from ECB

Four main Cypriot banks (Bank of Cyprus, Hellenic Bank, the Cooperative Central Bank and RCB) are undergoing the European Central Bank’s stress-testing simulation exercise to determine whether they have sufficient capital in the event of various economic scenarios.

ECB bank funding programme falls short of projections

A European Central Bank measure designed to stimulate the EU economy has seen a low initial take-up by banks from the Eurozone. The cheap loans to banks have been designed to encourage lending and strengthen the economy, but most banks declined to accept the cheap liquidity offer; with only €82.6bn used by 255 banks out of a total of €400bn.