Generally, there are no exchange controls in Australia. However, taking currency notes (in any currency) to the value of AUD10,000 or more must be reported.
In some cases there may be financial...more
A recent Financial Institution Letter provides guidance on the FDIC’s methodology when entertaining requests from banks or savings associations organized as Subchapter S corporations (S-corporation banks) to pay dividends to...more
On 25 March 2013, the Bank of Cyprus and Laiki Bank (also known as Cyprus Popular Bank) entered resolution proceedings under the Resolution of Credit and Other Institutions Law 2013....more
Banks in Cyprus opened today at 10 am GMT, 10 days after they closed, as Cyprus became the first country in the Eurozone to implement capital and exchange controls in an attempt to prevent a run on the nation’s banks and a...more
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