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
Impaired asset Impaired asset According to U.S. accounting rules (US GAAP), the value of an asset is impaired when the sum of estimated future cash flow from that asset is less than the book value of the asset. At this point an impairment loss should be recognized, which is done by taking the difference between the fair market value and the book value and recording this amount as the loss. This basically records the asset as if it were being acquired brand new at its fair market value, recording this as its new book value. This is a common occurrence for goodwill