NICOSIA, Cyprus (AP) — A Central Bank official and asenior Finance Ministry technocrat says that
Bank of Cyprus savers withover 100,000 euros could take losses of up to 60 percent.Theofficials, who spoke
on condition of anonymity because they’re notauthorized to publicly discuss details of the issue, said
Saturday thatdeposits over 100,000 at the country’s largest lender willlose 37.5percent of their value after
being converted into bank shares.Theysaid they could lose up to 22.5 percent more, depending on anassessment
by officials who will determine the exact figure aimed atrestoring the troubled bank back to health.Cyprus
agreed Mondayto make depositors contribute to a financial rescue in order to secure10 billion euros ($12.9
billion) in loans from the eurozone and the IMF.Copyright 2013 The Associated Press.NICOSIA, Cyprus (AP) — A
Central Bank official and asenior Finance Ministry technocrat says that Bank of Cyprus savers withover
100,000 euros could take losses of up to 60 percent.Theofficials, who spoke on condition of anonymity
because they’re notauthorized to publicly discuss details of the issue, said Saturday thatdeposits over
100,000 at the country’s largest lender willlose 37.5percent of their value after being converted into bank
shares.Theysaid they could lose up to 22.5 percent more, depending on anassessment by officials who will
determine the exact figure aimed atrestoring the troubled bank back to health.Cyprus agreed Mondayto make
depositors contribute to a financial rescue in order to secure10 billion euros ($12.9 billion) in loans from
the eurozone and the IMF.Copyright 2013 The Associated Press.