# The Cyprus banking crisis and its aftermath

Depositors in Cypriot banks lost billions when savings were confiscated to protect the island’s banking system in 2013, in a process known as a bail-in.

| Creator     | Time | URL                                                                                                                    |
| ----------- | ---- | ---------------------------------------------------------------------------------------------------------------------- |
| Ruth Levush | 5min | [Full source](https://blogs.loc.gov/law/2013/04/the-cyprus-banking-crisis-and-its-aftermath-bank-depositors-be-aware/) |

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**Takeaway** Regular depositors were forced to pay with their bank funds for excessive risk-taking behavior by a couple of Cyprus banks.
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