Household and corporate balance sheets have been damaged in the crisis, including through the bail-in of uninsured depositors
Of course, my impression up to now was that Mr Mavrides was strongly against any form of haircut and it will be interesting if he could refer us to a public intervention he might have made in 2013 (or in 2014) supporting the horizontal haircut on uninsured depositors
As a consequence, on March 25, 2013, Cyprus agreed to a revised bailout deal with the Troika that only impacted bondholders or uninsured depositors
in Laiki Bank and Bank of Cyprus -- who were overwhelmingly from countries other than Cyprus.
0 million, will automatically be credited to the funds held in trust for the closed banks concerned and will be used to settle claims of creditors and uninsured depositors
It is unclear, however, how the authorities will be able to protect Corpbankas uninsured depositors
with the government of Prime Minister Plamen Oresharski having now resigned and Parliament awaiting to be dissolved to open the way for early elections.
Since the mid-1980s, a number of studies have examined whether uninsured depositors
respond to bank risks by withdrawing their deposits and/or requiring higher interest rates.
He added, "The FDIC will continue to pursue litigation where necessary in order to recover as much as possible for FDIC receiverships, money that is ultimately returned to the Deposit Insurance Fund, uninsured depositors
and creditors of failed banks.
The new bailout conditions do not go as far as they did in Cyprus, though, where senior bondholders and uninsured depositors
took a hit.
The Dutch finance minister said if banks needed restructuring and were unable, then euro zone officials would turn to shareholders, bondholders and uninsured depositors
to contribute to a bank rescue.
On March 25, after the decision had been taken to wind up the country's second-largest bank, and to impose large losses on uninsured depositors
in the process, Eurogroup President Jeroen Dijsselbloem, the Dutch finance minister, declared that a healthy financial sector requires that "where you take on the risks, you must deal with them".
Cyprus will shut down its second largest bank and inflict heavy losses on uninsured depositors
in return for a 10bn-Euro deal to keep the country in the Eurozone.
A government spokesman said the losses on uninsured depositors
would be "under or around 30%".