Cyprus' central bank has denied that Cyprus Popular Bank is to be shut down.
The island's two largest banks, the Bank of Cyprus and Popular Bank, were bailed out following massive losses.
Popular Bank will be broken up immediately, and its viable assets will be integrated into the Bank of Cyprus.
The ratings firm downgraded Cyprus Popular Bank to D, equivalent of Default and Bank of Cyprus to "SD", "Selective Default".
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One of our companies has been banking with LAIKI (Cyprus Popular Bank) and we have had current accounts with the bank.
Most of the bailout money is expected to go to Cyprus Popular Bank, the island's second-largest lender, which is heavily exposed to debt-laden Greece.
State broadcaster CyBC said employees of Cyprus Popular Bank, the country's second largest, were told on Thursday afternoon the bank would be closing down.
The decree imposing the unprecedented measures for the euro-zone country will apply to all bank accounts, not just Cyprus Popular Bank and Bank of Cyprus.
The roots of the crisis go back to 2006 when the Cyprus Popular Bank, the country's second biggest bank was taken over by a smaller Greek bank.
Anxious Cypriots did not want to take any chances, queuing outside Popular Bank - otherwise known by the Greek name Laiki - cash machines in the capital Nicosia.
The chancellor also said the future of UK branches of Laiki Bank - also known as Cyprus Popular Bank - was the subject of discussions between the Treasury and Cypriot authorities.
So the big financial institutions like the Bank of Cyprus and Popular Bank asked for a bailout from the government, and the government came to the EU in June 2012 saying it needed a bailout in turn.
But talks in Russia appear to have ended with no agreement, and the latest plans involve dividing up the second-largest of Cyprus's stricken banks - Cyprus Popular Bank (also known as Laiki Bank) - into a "good" and a "bad" bank.
Beyond the immediate problems firms here will face because of a limit on transactions and a freeze of banking activity, Mr. Pilikos said he feared many of his organization's members wouldn't survive the blow delivered by the closure of Cyprus Popular Bank and the hefty haircut imposed on deposits in Bank of Cyprus.
The rest would have come from Cyprus itself and from those large depositors in the Bank of Cyprus and Laiki (Popular) Bank.
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.
Banco Popular began as the bank of the poor in Puerto Rico in 1893.
So the question is whether the idea of RBS and Lloyds as the people's banks will take off - whether Mr Clegg can generate sufficient popular enthusiasm for the "bank-shares-for-all" plan such that the Conservative wing of the coalition decides to ignore the logistical complexities and embrace it.
In June 2002 we swam against the popular current to suggest that Deutsche Bank Chief Josef Ackermann look to bolster his home market by restructuring the firm and cast aside some of the expensive global "Wall Street" ambitions.
The product is now catching the attention of State Street Bank, creators of the popular SPDR exchange traded funds.
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However, a report compiled by the Personal Finance Research Group on behalf of Barclays bank, has questioned how popular topping up the funds will prove to be.
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Partly because of a long-awaited Fatah congress last month in Bethlehem, where a younger leadership emerged, Fatah's Mahmoud Abbas, who presides over the Palestinian Authority (PA) that runs the West Bank, has become more popular.
Bank deposits, still the most popular way of saving, are also growing rather more slowly this year.
Bank stocks have not been terribly popular these days, as banks still suffer from re-regulation, bad loans, legal woes, and a flattening yield curve that squeezes their core profitability.
The answer depends on how US economic data, Debt Ceiling Negotiations on the national debt limit, and central bank actions will play out with popular trade strategies like shorting the dollar, buy commodities, and exporters.
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It is also time to put to rest a popular but fallacious view that since central-bank reserves equal only a fraction of the daily turnover on foreign-exchange markets, intervention is merely a drop in the bucket.
The fact that the central bank's overnight borrowing window has remained popular with jittery lenders has emphasized how reticent they are to lend to consumers and businesses (See "Banks Still Hoarding Cash").
Hamas, which won the Palestinian vote in 2006 now appears as reluctant to put its fortunes in Gaza, which it has governed since 2007, to the popular vote as its Fatah rivals do in the West Bank.
Buying Chinese stocks listed in Hong Kong, especially Chinese bank stocks (H shares), has been popular with foreign investors.
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By comparison, the London Eye, the popular 12-year-old tourist attraction on the South Bank near Parliament, is 443 feet tall, while Deno's Wonder Wheel at Coney Island stands 150 feet high.
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