Cyprus, Romania sign new memorandum of understanding

Mugur Isarescu, the governor of the National Bank of Romania, and Athanasios Orphanides, the governor of the Central Bank of Cyprus, on Friday signed a revised agreement to cooperate on banking supervision.

The memorandum of understanding, which updates an agreement signed in 2002 before European Union accession, covers recent developments in banking supervision.

It defines a general framework for mutual cooperation and exchange of information between the two authorities. The regulators said the

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