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Cyprus limits ATM withdrawals to 100 euros per day
March 24, 2013 / 4:50 PM / 4 years ago

Cyprus limits ATM withdrawals to 100 euros per day

NICOSIA, March 24 (Reuters) - The central bank in Cyprus imposed a 100-euros per day withdrawal limit at cash machines for all local banks on Sunday to avert a run on lenders.

A spokesman for second largest lender Cyprus Popular Bank , which had previously limited withdrawals to 260 euros, said the new measure began at 1 p.m. (1100 GMT) and would remain in place until the bank reopens, scheduled for Tuesday, or until confirmation of continued emergency funding from the European Central Bank.

A government official, who declined to be named, said the measure applied to all local banks on the island.

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