In addition to limits on ATM withdrawals, the measures allow authorities to restrict noncash transactions, freeze check cashing, limit withdrawals from bank accounts and even convert checking accounts into fixed-term deposits.

WSJ: Cypriots Greet Bailout Deal With Wariness

Uruguayan officials hurriedly devised a more flexible alternative, which distinguishes between sound banks (which will operate normally) and unsound ones (some of whose fixed-term deposits are frozen until rescue measures are taken).

ECONOMIST: Latin America's economies