Laiki Bank, founded in 1901, is now history, but Chrysafis's work there is unfinished.
Bank of Cyprus and Laiki were seen as more financially stable than the state.
As Laiki is dismembered, users' data needs to be safeguarded and access to the systems sealed off.
The programme money (up to 10bn Euros) will not be used to recapitalise Laiki and Bank of Cyprus.
FORBES: Links 25 March: Sense In Cyprus, How To Deal With Both Deposit Insurance And Moral Hazard
Most of the accounts considered worth saving from Laiki would find a new home at Bank of Cyprus.
Big depositors at Laiki now could face an even tougher "haircut" than those with the Bank of Cyprus.
It is being merged with the "good" parts of the failed Laiki Bank, which will be closed down.
BBC: Cyprus banks to reopen on Thursday after bailout closure
With queues growing outside cash machines, Laiki also lowered its daily limit to 100 euros, Cyprus News Agency reported.
Cyprus agreed last week to shut down Laiki and transfer deposits of under 100, 000 euros to Bank of Cyprus.
BBC: Cyprus rescue plan will require great efforts, IMF says
The longer queues formed outside branches of Laiki, which is being wound up.
Authorities in Cyprus are in the process of winding up the Laiki Bank.
Bank of Cyprus UK and Laiki Bank UK both confirmed on their websites that there would be no impact.
One of our companies has been banking with LAIKI (Cyprus Popular Bank) and we have had current accounts with the bank.
The rest would have come from Cyprus itself and from those large depositors in the Bank of Cyprus and Laiki (Popular) Bank.
In June 2012, as an emergency rescue measure the Cypriot government took an 84% stake in Laiki and appointed a new board.
Nevertheless, it admitted that discussions were continuing with the Financial Services Authority, the Bank of England and Laiki's parent company in Cyprus.
Laiki will be split into a good bank and a bad bank.
FORBES: Links 25 March: Sense In Cyprus, How To Deal With Both Deposit Insurance And Moral Hazard
However, some European banks - such as Laiki - only have branches in the UK, rather than being regulated by the UK authorities.
Last year he was the head of the country's second-largest bank, Laiki, whose performance was a major factor in Cyprus' near financial collapse.
The bank restructuring will include the country's troubled second largest lender, Laiki, which suffered heavy losses after being exposed to toxic Greek debt.
In return, the country is imposing extensive losses on deposits over 100, 000 euros at its two biggest banks, the Bank of Cyprus and Laiki.
Those with mortgages or loans from Laiki Bank will see them transferred to Bank of Cyprus, not in the UK, but in Cyprus itself.
Cyprus is a small nation but news of bank runs at Bank of Cyprus and Laiki Bank spread like wildfire, bringing down global markets.
FORBES: EU Takes Shot At Moscow With Cyprus Bailout As Russians Own 22% Of Deposits
Large depositors in Laiki Bank, which is being broken into good and bad banks, are likely to see nearly all of their assets written off.
Cash has been available through ATMs, but many run out quickly, and those machines for the troubled Laiki Bank are only dispensing 260 euros a day.
The country's two biggest banks, Bank of Cyprus and Laiki, are believed to be reliant on Emergency Liquidity Assistance provided by the Central Bank of Cyprus.
The good bank will be folded into Bank of Cyprus (BoC), using the Bank Resolution Framework, after having heard the Boards of Directors of BoC and Laiki.
FORBES: Links 25 March: Sense In Cyprus, How To Deal With Both Deposit Insurance And Moral Hazard
Both Bank of Cyprus and another big bank, Laiki, are believed to be reliant on the ECB's Emergency Liquidity Assistance, provided via the Central Bank of Cyprus.
The money taken from those accounts, and from deposits above 100, 000 euros at Laiki (Popular) Bank, will be used by the government to contribute billions towards the bailout.
Laiki Bank is due to be closed as part of the restructuring plan, but there are a small number of branches in the UK serving around 13, 000 customers.
应用推荐