By the European Central Bank (ECB)
- ECB approves Cyprus’ RCB Bank’s sale of part of its loan portfolio to Hellenic Bank
- ECB restricts RCB’s business: it cannot take new deposits, grant new loans, or make new investments
- ECB appoints temporary administrator to work with current management and closely monitor bank’s liquidity and capital
- RCB Bank’s voluntary phasing out of banking operations includes full repayment of depositors
Link: ECB takes decisions related to RCB Bank phasing out its banking operations