Kibkom North Cyprus Forum

Just a reminder that speculation leading to a run on a bank is taken very seriously here and is a criminal act which could land any member in prison...

This is not to say you should not be mindful of what you do/do not do with your capital. Just don't start rumours.

I was told by the director of a local bank 12 years ago now that the banks here are required to retain double the normal EU standard capitalisation following a previous banking melt-down - so banks ought to be able to meet normal demand. e.g. UK banks typically only retain 10% and invest/loan out the other 90% to make profits... Here I'm told they are required to retain 20% and can only use the 80% remainder for investment purposes.

Is this the banks in the north Groucho or just the ones in the south?

Laura B wrote:Is this the banks in the north Groucho or just the ones in the south?

The north.... I have zero knowledge of south Cyprus banks other than... I would not touch them with a barge-pole.

Thanks for that Groucho. Lol re the south banks! I totally agree!

‘Turkey's interior ministry said it was taking legal action against 346 social media accounts it claimed had posted comments about the weakening lira "in a provocative way”.,
http://www.bbc.co.uk/news/business-45167030

Perhaps someone should take some action against the lunatic that has brought this situation about, namely HRH Erdogan!
Until he goes there is no hope for Turkey.

trooper wrote:Perhaps someone should take some action against the lunatic that has brought this situation about, namely HRH Erdogan!
Until he goes there is no hope for Turkey.

Oh dear,

That's you on the list then. ..

Aah, what is your name? Don't tell him trooper. (Thank you Capt Mainwaring, still makes me chuckle)

Keith

If I still lived in the TRNC i wouldn't be daft enough to make that comment but over a year ago I decided my future lay in a European country - not the UK - so I am fairly confident that the loon won't find me here.

It's interesting that a third world country like Turkey, because of its NATO membership actually counts for something not to mention its importance when it comes to the black hordes coming from North Africa and elsewhere.

Unfortunately Erdogan actually believes that Turkey is a MAJOR player in the world......time to remind him that more than half his country is still riding about on donkeys and are not sure what those big silver coloured things in the sky are....

Until he goes or is helped to go, the educated elite will continue to flee the country and it will eventually look horribly like Afghanistan.

The man is nuts, he knows it, you know it, and everyone else knows it. We need to be patient - he will not be there forever.

trooper wrote: The man is nuts, he knows it.

I don't think he does....

Groucho,
the subject is quite complicated (banking maths) , but the minimum capitalisation of banks ( as you wrote: "retain") 12 years ago surely was not 10%.
it was more to 2% and less, that is the main reason why we still "enjoi" the financial crunch after 10+ years..
(profits privatised, losses socialised = tax payer)

the new TLAC (in Europe MREL) regulations were introduced 2014-2015 and become full effective in 2022.