Cyprus and Netherlands Central Banks sign MoU

De Nederlandsche Bank N.V. (The Netherlands Central Bank) and the Central Bank of Cyprus, expressing their mutual interest and willingness in establishing and promoting bilateral ties in supervising credit institutions, signed a “Memorandum of Understanding”, a press release issued here today by the Central Bank of Cyprus said.
According to the press release the “Memorandum of Understanding” defines a general framework of mutual co-operation and exchange of information between the two supervisory authorities with a view of facilitating the consolidated supervision of cross-border establishments and ensuring the safe and sound functioning of credit institutions in their respective countries, in accordance with their national laws and regulations
The “Memorandum of Understanding” was signed on behalf of the Central Bank of Cyprus by its Governor Christodoulos Christodoulou and on behalf of De Nederlandsche Bank N.V. by Prof. Arnold Schilder, Executive Director.
The Central Bank of Cyprus pursues an active policy of signing “Memoranda of Understanding” for co-operation and exchange of information with competent overseas authorities, the press release said.
In the field of banking supervision, the Central Bank of Cyprus has signed “Memoranda of Understanding” with the Central Banks of countries whose banks already have or may have, in the immediate future, a physical presence in Cyprus.
“Memoranda of Understanding” have already been signed with the Central Bank of the Russian Federation, the Bulgarian National Bank, the National Bank of Ukraine, the National Bank of the Republic of Belarus, the National Bank of Yugoslavia, the National Bank of Romania, the Financial and Capital Market Commission of the Republic of Latvia, the National Bank of Slovakia, the Bank of Tanzania, the Central Bank of Jordan, the Bank of Greece, the Banque du Liban and the Central Bank of Armenia. Moreover, negotiations are currently being carried out with another fourteen overseas banking supervisory authorities for the signing of similar documents.