The registration deadline for the Solidarity Fund, which calculates actual compensation amounts for those affected by the 2013 deposit haircut, expires today, April 30. However, the number of applications submitted by yesterday, April 29, significantly lags behind the figures previously reported by associations of affected depositors and bondholders.

During a press conference, Minister Keravnos discussed the Solidarity Fund, intended to compensate those affected by the 2013 resolution of Laiki Bank and Bank of Cyprus. He revealed that 4,000 applications had been submitted by yesterday, raising questions as these figures significantly diverge from the 30,000 individuals and entities previously reported by affected associations.

Specifically, Adonis Papakonstantinou, President of the Laiki Bank Depositors Association (SYKALA), previously indicated that about 15,000 individuals and entities were affected by the haircut. Stavros Yiallourides, President of the Association of Banking Securities Holders (SYKATA), noted approximately 17,000 affected securities holders.

Although the current number of applications greatly differs from the associations' data, definitive conclusions will only be possible after the deadline has passed and the applications are reviewed.

It is noted that the Solidarity Fund currently holds approximately €230 million in cash and around €80 to €90 million in assets. From 2024, the state will contribute €50 million annually to the fund, an increase from the previous €25 million.