Cyprus banking deposits stood at some EUR72 billion, of which two thirds belong to domestic and foreign individuals and non-financial companies.
Greece is the most heavily exposed nation to Cyprus banks, with aggregate savings worth EUR4.7 billion in December last year. The UK, which keeps two military bases in the island, has total exposure of EUR2 billion.
The exposure to Cypriot banks of individuals and non-financial companies in Bulgaria, Germany, France, Luxembourg and Malta reaches around EUR100 million per country, ECB data showed.
Cyprus is on the brink of financial collapse after the country’s lawmakers rejected a proposal from European leaders to tax depositors in exchange for international aid.
The authorities in Nicosia are trying to find alternative means to raise EUR5.8 billion demanded by EU to recapitalize its banks under a possible EUR10 billion bailout program.