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First Posted: 4/5/2013 (AP) Cyprus' finance ministry has further loosened restrictions on access to accounts in the country's two biggest lenders by allowing limited, bank-to-bank money transfers.
The ministry issued a new decree Friday stating that individuals can transfer up to 2,000 euros ($2,588) from one bank to another each month. Business can transfer as much as 10,000 ($12,944) euros from bank to bank per month.
The new decree will remain in force for another seven days.
Cyprus imposed the limits last month to head off a potential bank run after lenders reopened following a nearly two-week closure to allow the country to finalize a 10 billion euro ($12.94 billion) bailout with its eurozone partners and the International Monetary Fund.
The bailout forces savers in the country's two biggest banks to take hefty losses.
<a title="Associated Press" href="http://www.ap.org" class="url org fn">Associated Press</a>

Cyprus allows limited bank-to-bank money transfers