Some key data about bond purchases by Bank of Cyprus - now the focus of a controversial EU-IMF bailout - is missing, investigators have found. The gaps were found in computer records studied by a financial consultancy, Alvarez and Marsal, Cypriot media say.Bank of Cyprus - the island's biggest bank - bought Greek bonds which turned into some 1.9bn euros (£1.6bn; $2.4bn) of losses in the Greek debt crisis. Depositors with more than 100,000 euros in the bank are now facing a big loss.
The "haircut" for such deposits in Bank of Cyprus is expected to be about 60%.
| That's more of a "beheading"... |
Strict capital controls - unprecedented for the eurozone - are in force in Cyprus, limiting cash withdrawals to prevent a run on the banks.
The "haircut" - hugely unpopular in Cyprus - is a condition for the EU and IMF to grant a 10bn-euro bailout to rescue the Cypriot economy.
The Cyprus Mail website says information provided by Bank of Cyprus was incomplete and data-deleting software was found on some computers there.
| Like on the computers of those who had just moved their money and the money of their families out of Cypriot banks? |
| Did Rosemary Woods retire to the Med? No? Must have been someone else who wiped all the hard drives then... |