You are here

No interest in purchase of loans

19/09/2016 18:58
There has been no interest in the purchase of loans, despite the fact that the relevant legislation has been adopted since the end of 2015, Cyprus Securities and Exchange Commission (CySEC) Chairwoman Demetra Kalogerou told MPs, here on Monday.

Kalogerou was replying to MPs questions during a meeting of the parliamentary committee of budgetary and financial affairs, which examined an amendment of the relevant legislation.

“There has been no interest in the purchase of loans,” she said.

The initial bill authorised the Central Bank of Cyprus to licence, regulate and oversee the activity of selling and buying credit facilities by credit institutions.

The amendment seeks to remove asset management companies which are supervised by the CySEC rather than the Central Bank. The amendment was considered necessary so that asset management companies are obliged to be licensed by the Central Bank.