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
Lombard Street: A Description of the Money Market without limit), to solvent firms, against good collateral, and at ‘high rates’". In Bagehot's own words ("Lombard Street", Chapter 7, paragraphs 57–58), lending by the central bank in order to stop a banking panic should follow two rules: Lombard Street: A Description of the Money Market Lombard Street: A Description of the Money Market (1873) is a book by Walter Bagehot. Bagehot was one of the first writers to describe and explain the world of international and corporate finance, banking, and money in understandable language. The book was initially printed in Great Britain by Henry S. King & Co. in