* After one month, finally a solution for the deposits of Bank of Cyprus
* The liabilities and part of the assets of Bank of Cyprus, transferred over to Marfin Bank România
The current situation in Cyprus has recently sparked a "bitter" between the Cypriot president Nicos Anastasiades and the governor of the French Central Bank, Christian Noyer. Anastasiades compared his country to "a Guinea Pig" which is being experimented on, and claimed that "the main goal of a precedent is to set rules to be applied repeatedly on a universal level", while Noyer stressed that Cyprus saw "an exceptional treatment", but it isn't one which can be called "a precedent or a model for the crisis management in future situations".
After almost four weeks of suspense concerning the activity of the branch of Bank of Cyprus in Romania, the Central Bank of Cyprus found the solution - it transferred part of the portfolio of BoC to another Cypriot bank - Marfin Bank.
The Central Bank of Cyprus (CBC) yesterday approved the transfer of the deposits, the liquidity and of part of the loans to the Romanian branch of Bank of Cyprus (BoC) to Marfin Bank, the local branch of Cyprus Popular Bank (Laiki Bank), which will be partially absorbed by the BoC, an operation which BURSA announced as likely two days ago. Last week, the press was reporting that the bids submitted by Banca Transilvania and Raiffeisen Bank for acquiring Bank of Cyprus were rejected by the CBC, because they were deemed too small compared to the evaluation of the Committee for the restructuring of the Cypriot banking system.
Given these circumstances, the National Bank of Cyprus sought alternatives for transferring the deposits of the Romanian branch of Bank of Cyprus. On Tuesday, the advisor to the Governor of the National Bank of Romania (NBR), Adrian Vasilescu, was saying that a solution in that
