The ECB said euro area households hold almost €10 trillion in cash and low-yield deposits, while Cyprus faces low financial literacy and reliance on bank savings. Nicosia, Cyprus. The European Central Bank has warned that euro area households hold a large share of their wealth in cash and low-yield deposits, with Cyprus facing a particular challenge in encouraging longer-term investment. The Central Bank of Cyprus has said the country ranks among EU states with the lowest levels of financial literacy, particularly among young people. 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.
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