The Bank of Cyprus has completed the securitization of €1 billion ($1.34 billion) in mortgage debt, according to market reports.

The bank said the project was carried out through its Greek operations, since there is no provision in Cypriot law for debt securitization. Chief Executive Andreas Eliades stated the securitization would be instrumental for absorbing cash from the European Central Bank at lower interest rates.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.