Economic Adjustment Programme for Cyprus be saved and transferred to Bank of Cyprus (BoC), while shareholder capital would be written off, and the uninsured deposits above €100,000 – along with other creditor claims – would be lost to the degree being decided by how much the receivership subsequently can recover from liquidation of the remaining bad assets. As an extra safety measure, uninsured deposits above €100,000 in BoC will also remain frozen until a recapitalisation has been implemented "(with a possible imposed haircut if this is later deemed needed to reach the requirement for a 9% tier 1 capital ratio)". The targeted closure of Laiki
Bank of Cyprus Bank of Cyprus Bank of Cyprus () is a Cypriot financial services company established in 1899 and headquartered in Strovolos. The Bank of Cyprus currently operates through a total of 121 branches/business offices, of which 121 operate in Cyprus, one in Romania (€206 million net exposure). The group has representative offices in Greece, (€472 million net exposure) Russia, (€44 million net exposure) Ukraine and China. It is the largest bank in Cyprus by market penetration, with 83% of Cypriots having active Bank of Cyprus accounts, representing a 60% share in total corporate accounts and a 40% share of the overall