ECB health check ‘putting strains’ on Cyprus central bank
IMF singles out need to address NPLs in latest staff report on Cyprus
The transition to the Single Supervisory Mechanism (SSM) is "putting strains" on the Central Bank of Cyprus, according to an IMF staff report published today.
The SSM will launch on November 4, following the European Central Bank's (ECB) release of the comprehensive assessment on October 26.
It represents a major overhaul of banking supervision in Europe and, according to the IMF report, is pushing the Central Bank of Cyprus' operational capacity to its limits.
Under pressure
Four banks
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