The largest Cypriot bank has a problem, it lacks data
Bank of Cyprus has another problem in depth inspection it was found that it lacks data on purchases of Greek bonds disadvantageous in the meanwhile 2007-2010. With this finding came the financial company Alvarez & Marsal, which is involved in the control. Bank of Cyprus bought Greek bonds to it as a result of the Greek crisis has caused losses of about 1.9 billion euros. Depositors who have a bank has more than 100,000 euros, will come due Cypriot "haircut" of about 60%. As reported by the Cyprus Mail website, the information provided by Bank of Cyprus were not complete and some computers found special software for erasing data. Significant gaps in the records cover the period between 2007 and 2010.It is not yet clear whether the records were deleted intentionally or accidentally.
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