The Cypriot banking system is resilient and able to cope with the ongoing issues faced by Credit Suisse, government spokesman Konstantinos Letymbiotis said on Tuesday, reiterating what the central bank chief had said the day before.
Speaking to state broadcaster CyBC, Letymbiotis said the Swiss bank’s collapse “is no cause for concern for Cyprus.
“President Nikos Christodoulides is in constant communication with Central Bank chief Constantinos Herodotou to monitor all developments on the subject,” he said.
“We are ready to take appropriate measures should the need for them arise”.
Cypriot banks today have significant capital and liquidity to cope with the situation, Letymbiotis added.
Herodotou is set to meet the CEOs of Cyprus two major banks on Tuesday. Earlier, he discussed ongoing developments regarding Credit Suisse’s situation with Christodoulides.
Both men said they were “satisfied” with how Swiss authorities have handled the matter.
During the meeting, Herodotou conveyed to the president that “Cypriot banks have a robust capital adequacy and liquidity.”
Meanwhile also on Monday parliament decided to summon Finance Minister Makis Keravnos as well as banking and financial regulators for a briefing on the possible risk of contagion to Cyprus from the collapse of major banks in the United States.
The session will take place next week.
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