ASSIGNMENT OF LOANSAssignment of Loans • April 15th, 2009
The Central Bank conducts, within the framework of the implementation of monetary policy in the euro area and its capacity as a member of the Eurosystem, credit operations with credit institutions, in accordance with the provisions of the Directive issued by the Central Bank of Cyprus on the Monetary Policy Implementation (Instruments and Procedures), Reg. 614/2007 (hereinafter referred to as the “MPI Directive”) and other operations for the provision of foreign currency liquidity to credit institutions and extends intraday credit to credit institutions in accordance with the provisions of the Directive issued by the Central Bank of Cyprus on the Provision of Intraday Credit to TARGET2-CY participants and to participants of other systems which are managed by the Central Bank of Cyprus, Reg. 450/2007 (the “Advances”),
