The Central Bank of Cyprus (CBC) has revised its directives concerning the release of loan collateral after repayment and the costs of valuations during loan restructuring. The updated rules require immediate release of collateral once a loan is fully repaid, with exceptions mainly applying to mortgages on immovable property according to existing laws. Additionally, if a mortgagor consents in writing not to discharge a mortgage, this directive does not apply unless such consent is withdrawn.

Regarding valuation costs, any expenses from valuations during credit facility reviews are now typically borne by credit institutions unless specified otherwise in the loan agreement. The CBC also introduced a new Electronic Money Directive that establishes governance and risk management requirements for electronic money institutions, including compliance measures against money laundering and terrorist financing. These regulatory changes are effective immediately following their publication in the Official Gazette.