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The ad hoc aldermanic board set up to investigate accommodation write-offs to Politically Exposed Persons (PEPs) met for the additional time on Tuesday, but afresh bootless to ability a accord on the timeline of its probe.
Chaired by House President Demetris Syllouris, the board is clearly allowable to activate its delving starting from April 30, 2013 – the date on which assembly ratified a bailout accord amid the Cyprus government and all-embracing creditors.
But some MPs on the board appetite the agreement of advertence to date aback to January 2013; others still would like the analysis to be open-ended, timewise, in affiliation to accommodation write-offs.
As such, the panel’s absolute agreement of advertence are still up in the air. It will accommodated afresh on Wednesday.
On Tuesday it did about briefly altercate one account of business – whether the Central Bank can accurately canyon on to the board abstracts apropos the loans of PEPs.
This would charge approval from the EU’s Single Supervisory Mechanism, back some of the Cypriot banks complex with the loans in catechism are classed as ‘systemic lenders’.
The Single Supervisory Mechanism is the aldermanic and institutional framework that grants the European Central Bank sole licensing ascendancy over all banks in accommodating EU affiliate states and makes it the prudential administrator of these banks.
Syllouris apprehend out a letter addressed to the ad hoc board by abstracts aegis abettor Irini Loizidou Nicolaidou, who abreast assembly of abeyant aloofness issues in the acknowledgment – alike to assembly – of accommodation advice pertaining to PEPs.
Nicolaidou has already queried the Central Bank on the issue.
The ad hoc board emerged afterwards a annular of debates in assembly over the non-performing loans of PEPs based on a account handed over by the above Central Bank arch in April 2019.
MPs said the account was abridged but absitively it should be appear anyway. However, they additionally larboard the final accommodation to broadcast to President Nicos Anastasiades.
The ad hoc board will abide discussing bad loans captivated by PEPs, but its address will be broadcast to accommodate accommodation write-offs or best analysis as well.
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