InsiderEconomyCentral Bank Governor warns about banks’ own funds

Central Bank Governor warns about banks’ own funds

Central Bank Governor Constantinos Herodotou is warning about the banks’ own funds but also about the country’s financial stability. Herodotou sent a letter to House Speaker Adamos Adamou in light of the debate on sale of assets.

Herodotou expressed his concern about the alteration of the relevant law and the alteration of other laws which in fact cancel the tool of sale of assets.

As he pointed out, the ongoing changes of laws, combined with the uncertain economic environment due to the pandemic, increase the uncertainty of foreign investments and lead credit rating agencies to negative reactions.

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