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Cyprus Final Bailout Agreement Is Worse For The FX Brokers

|Includes:Ameriprise Financial, Inc. (AMP), AMTD, BAC, BBD, BBVA, BCS, BGCP, BK, BMO, BNS, BTFRF, C, CM, CME, CS, DB, DJ, ETFC, FB, FTGI, FXCM, GCAP, GS, HSBC, IAPLF, IAPLY, IBKR, IGGRY, JPM, LUK

Unlike the original proposal, uninsured depositors will likely lose around 40% (not 10%) at Cyprus' two largest banks.

Cyprus flagThis outcome -- as opposed to last week's 10% proposed levy on uninsured deposits, plus 6.75% of insured deposits -- will hit certain Cyprus-based FX brokers much harder then the original proposal.

For more details see LeapRate's Forex Industry News at leaprate.com.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.

Stocks: AMP, AMTD, BAC, BBD, BBVA, BCS, BGCP, BK, BMO, BNS, BTFRF, C, CM, CME, CS, DB, DJ, ETFC, FB, FTGI, FXCM, GCAP, GS, HSBC, IAPLF, IAPLY, IBKR, IGGRY, LUK, JPM