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Key data missing at troubled Bank of Cyprus - inquiry

From bbc.co.uk

Some key data about bond purchases by Bank of Cyprus - now the focus of a controversial EU-IMF bailout - is missing, investigators have found. The gaps were found in computer records studied by a financial consultancy, Alvarez and Marsal, Cypriot media say. Bank of Cyprus - the island's biggest bank - bought Greek bonds which turned into some 1.9bn euros (£1.6bn; $2.4bn) of losses in the Greek debt crisis. Depositors with more than 100,000 euros in the bank are now facing a big loss. The "haircut" for such deposits in Bank of Cyprus is expected to be about 60%. The money taken from those accounts, and from deposits ... (full story)

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