Cyprus

Download or read book Cyprus written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-09-15 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial sector is mostly comprised of the banking sector, which largely provides insurance and asset management services. A large part of banking system assets relates to subsidiaries and branches of foreign banks. The banking sector poses risks by virtue of its size and concentration. The Cypriot banking system has weathered the crisis better than many other euro zone area countries. Significant headwinds for the overall banking system are expected, and the cooperative banks appear particularly vulnerable.