FW: Important Notice re: Bank Holiday Extension in Cyprus

In the 21^st Century, how does one exist, in a supposedly developed nation that has a stock exchange, without access to banking?  Without access to cash?

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

Ph:  225-342-0013

 

From: treasury@bnymellon.com
Sent: Friday, March 22, 2013 8:53 AM
Subject: Important Notice re: Bank Holiday Extension in Cyprus
Importance: High

 

Important Notice Re: Extension of Bank Holidays in Cyprus

The Cypriot authorities have declared March 21 and 22, 2013 as additional bank holidays, extending from the initial dates of March 19 and 20. No trading, settlement, or cash transactions will take place on March 21 and 22, 2013, including the previously scheduled bank holiday of Monday, March 25, 2013. Banks are expected to re-open as of Tuesday, March 26, unless further bank holidays are scheduled. All banks, the Cyprus Stock Exchange, and the central securities depository will be closed on these dates, making securities trading, settlement, or cash activities impossible. BNY Mellon will continue to monitor the situation. Due to its nature, it is uncertain when pending financial transactions to Cypriot beneficiaries through Cyprus banks may be settled. If you have any questions or concerns regarding any in-process or future transactions, please contact your BNY Mellon Treasury Services Relationship Manager or Client Service Officer. BNY Mellon Treasury Services

 

The information contained in this e-mail, and any attachment, is confidential and is intended solely for the use of the intended recipient. Access, copying or re-use of the e-mail or any attachment, or any information contained therein, by any other person is not authorized. If you are not the intended recipient please return the e-mail to the sender and delete it from your computer. Although we attempt to sweep e-mail and attachments for viruses, we do not guarantee that either are virus-free and accept no liability for any damage sustained as a result of viruses.

Please refer to http://disclaimer.bnymellon.com/eu.htm for certain disclosures relating to European legal entities.