The head of Cyprus’s Securities and Exchange Commission (CySEC) Demetra Kalogerou stated on 19 September 2016 that there has been no investor interest to buy loans from Cypriot banks after the Parliament passed the necessary law.

Kalogerou was addressing members of the Finance Committee, which debated in Nicosia on Monday 19, September 2016 on a proposed amendment that will remove asset management companies from the supervision of the Central Bank of Cyprus on the grounds that they are already supervised by CySEC.

The parliament passed the law on the sale of loans in late 2015 in order to help banks reduce their stock of non-performing loans in their balance sheets.

Source: Cyprus Business Mail