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Can Cyprus Fend Off a Long-Term Bank Run?

When Argentina froze access to bank deposits in December 2001, the popular backlash was so severe its president and his successor had resigned within a month.Cyprus, where banks reopened on Thursday after being closed for nearly two weeks, has imposed restrictions on capital flows -- the first euro zone country to do so since the introduction of the single currency -- to limit panic withdrawals.The Argentine and other examples meant some in financial markets had anticipated a rush to withdraw money -- a sight that risked spooking depositors in other euro zone countries like Spain and Italy.On the first day the banks reopened, there was no sign of that, with orderly queues made up of dozens, rather than hundreds of people.Bank "runs" not only have the potential to topple presidents, they can cripple banks and financial systems and, once started, are notoriously difficult to stop.Television images of queues or rumours banks have shut or are in trouble can provide the trigger for people o...

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  1. Regulators to ease up on banks to get credit flowing: source

    Banks will get more time to build up cash buffers to protect against market shocks under a rule change that could help free up credit for struggling economies, a Eur...

  2. Investor Ross eyes Europe bank assets

    American billionaire Wilbur Ross is buying into a vehicle set up to buy UK banking assets and has signaled he will use the shell to pursue acquisitions in continenta...

  3. Northern Rock Asset Management To Reimburse Loan Customers GBP270 Million

    Northern Rock (Asset Management) PLC, the government-owned part of the failed lender, will spend 270 million pounds ($433 million) reimbursing about 152,000 customer...

  4. Lawmakers Says U.K. Could Lose £66 Billion on Bank Bailouts

    The U.K. could lose the GBP66 billion ($105 billion) it spent on rescuing Royal Bank of Scotland (RBS.LN) and Lloyds Banking Group (LLOY.LN), and made key errors ove...

  5. BOE Tucker: New Rules on Deposit Insurance to Spur Competition

    Strengthening the U.K.'s deposit insurance regime should encourage competition in the banking sector by making it easier for new lenders to attract deposits, a senio...

  6. Santander $2.7 billion deal for RBS UK branches collapses

    Spain's Santander pulled out of its 1.65 billion pound (US$2.65 billion) deal to buy 316 UK branches from Royal Bank of Scotland late on Friday, dealing a sharp blow...

  7. BOE's King Says UK Recovery Slow, Inflation Too High

    Inflation in the U.K. is too high and the nation's economic recovery too slow, Bank of England governor Mervyn King said Wednesday as he warned the euro-zone debt cr...

  8. Wilbur Ross on Investing in Natural Gas

    WL Ross & Co. CEO Wilbur Ross on the benefits of natural gas, the outlook for the economy and his support of Mitt Romney.

  9. U.K. Taxpayer To Get Back GBP48 Billion From The Rock...Eventually

    LONDON -- The U.K. taxpayer is set to get back up to GBP48 billion from the eventual sale of all the assets of nationalized lender Northern Rock, the U.K. government...

  10. Did Secretary of State Go Too Far Calling Out Marines?

    Former Navy SEAL Leif Babin on the recent actions of Marines against dead Taliban forces.

  11. Is World Losing Faith in U.S.?

    FBN’s Ashley Webster discusses how the political squabbles in the U.S. are hurting its global image.

  12. UK bank reform to cost up to $11 billion a year

    By Sudip Kar-GuptaLONDON (Reuters) - Britain's banks should shield their retail operations from riskier investment banking units and boost capital levels to protect ...

  1. King Urges Osborne to Splt RBS

    Outgoing Bank of England Governor Mervyn King called for a "decisive restructuring" of state-controlled lender Royal Bank of Scotland Group PLC (RBS.LN), a move like...

  2. FSA Libor Internal Review Shows Regulator Slow to React

    The U.K. Financial Services Authority repeatedly failed to act on warnings that banks were trying to rig interbank lending rates at height of the financial crisis, a...

  3. Factbox: Fed officials in 2007 failed to foresee crisis brewing

    Even as warning signs in credit markets picked up pace in 2007, Federal Reserve officials were slow to come alive to the risks of a crisis.Some Fed officials express...

  4. Softer liquidity rules lift Europe's banks

    French and German bank shares rose on Monday after regulators softened draft rules aimed at preventing a Lehman Brothers-style collapse that critics said threatened ...

  5. Banks' victory on liquidity will still cost them dear

    What first appears as a victory for banks in their battle to dilute draconian rules on liquidity will still mean they have to find trillions of dollars to protect th...

  6. Regulators ease key bank rule to spur credit

    BASEL, Switzerland/LONDON (Reuters) - Global regulators gave banks four more years and greater flexibility on Sunday to build up cash buffers so they can use some of...

  7. Regulators Set to Ease Up on Banks to Get Credit Flowing

    Banks will get more time to build up cash buffers to protect against market shocks under a rule change that could help free up credit for struggling economies, a Eur...

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