The Central Bank of Cyprus issued an announcement late Monday saying it had issued a decree by which it has placed the Cyprus branch of FBME Bank Ltd. under a state of resolution.
“The purpose of the decree is the sale of the operations of the branch with the aim of the protection of depositors,” said the decree, published in the official Gazette of the Republic and signed by the Governor Chrystalla Georghadji, CBC Council member Stelios Koiliaris and Senior Manager Yiorgos Syrichas.
A response is expected from FBME Cyprus.
See previous report: Central bank takes over FBME Cyprus, bank says it's "shocked"
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