Cyprus savings habits face scrutiny as ECB urges households to move beyond deposits - Cyprus Mail

The European Central Bank (ECB) has warned that euro area households are keeping too much of their wealth in cash and low-yield deposits, while Cyprus faces a particular challenge in encouraging households to move towards longer-term investment . In a blog post published this week, the ECB said around one-third of euro area household financial assets, worth almost €10 trillion , remained in cash and low-yield bank deposits. It said around 80 per cent of households did not own stocks or other market-based financial instruments, with participation substantially lower than in the United States .