ECB says Cyprus will need increased resources to monitor housing
Central bank says it will soon brief staff on major internal reorganisation
The European Central Bank has largely approved draft legislation that would give the Central Bank of Cyprus (CBC) greatly expanded powers over housing finance.
But the ECB warned in an official statement that the CBC would need considerably increased staffing and other resources to adequately fulfil its new tasks if the legislation was passed.
The ECB said Cyprus's finance ministry had requested an official response to the draft legislation on credit arrangements for housing purchases. The draft
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