The first private meeting between the President of the Republic Mr Nicos Christodoulides and the Governor of the Central Bank of Cyprus Mr Konstantinos Herodotou took place today.
During the discussion, it was decided that these meetings will be held on a regular basis to exchange views.
During today's meeting, the President of the Republic and the Governor had the opportunity to exchange views on current international developments in the banking sector. In particular, with regard to the Swiss bank Credit Suisse, both the President and the Governor welcomed the actions taken by the Swiss authorities to ensure global financial stability.
With regard to the domestic banking sector, the meeting confirmed the common understanding that the Cypriot banking system is resilient and able to continue to support the real economy. Cypriot banks currently have significant capital adequacy and liquidity. This is also due to prudent policies and the successful management of the various significant challenges faced by the sector in recent years.
(RM/MG)
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