Cypriot lender Bank of Cyprus said on Sunday it had carried out a conversion of uninsured cash deposits in the bank into equity, one of the conditions of international lenders to offer the cash-starved island financial aid. The process, known as a 'bail-in', made depositors in the bank pay for its recapitalisation, after the institution was hit by massive losses from its exposure to debt-crippled Greece. Bank of Cyprus, the island's largest bank, said it had converted 37.5 percent of deposits exceeding 100,000 euros into "class A" shares, with an additional 22.5 percent held as a buffer for possible conversion ... (full story)