Cyprus known as Laiki Bank), into a "bad" bank which would be wound down over time and a "good" bank which would be absorbed by the Bank of Cyprus. In return for a €10 billion bailout from the European Commission, the European Central Bank and the International Monetary Fund, often referred to as the "troika", the Cypriot government was required to impose a significant haircut on uninsured deposits, a large proportion of which were held by wealthy Russians who used Cyprus as a tax haven. Insured deposits of €100,000 or less were not affected. According to the 2017 International Monetary Fund
Hypo Alpe Adria Bank to make the market less compatible, thus the 2013 plan was redesigned in order to comply with EU law. The General Court also ruled that the guarantee granted by Austria to BayernLB in 2009 during the nationalization was a state aid but nevertheless compatible with EU law. In October 2014 Italian Guardia di Finanza started an investigation on the leasing department of the Italian subsidiary. The department was remained in the "bad bank" as Heta Asset Resolution Italia S.r.l.. On 1 March 2015 the Financial Market Authority Austria () imposed a moratorium on debt and interest payments by Heta Asset