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The Banking (Amendment) Law 2011
25.02.2011
Area(s) of Practice: Banking and Secured Financing

The Banking (Amendment) Law 2011


“The Banking (Amendment) Law 2011” was approved on 24th February, 2011 and it aims to harmonise Cyprus Banking legislation with Article 1 of Directive 2009/111/EC of the European Parliament and of the Council of 16 September 2009 as regards banks affiliated to central institutions. The said EC Directive also amends Directives 2006/48/ΕC, 2006/49/ΕC and 2007/64/ΕC as regards banks affiliated to central institutions, certain own funds items, large exposures, securitisations, supervisory arrangements, and crisis management.

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