Last Thursday the Cyprus House of Parliament adopted the bill for the sale of loans. This is the third weapon added to the arsenal of the banking institutions (following the law on foreclosures and the insolvency framework) in their efforts to reduce the elevated Non Performing Loans. Shall they be successful in reducing the NPL’s, the Cyprus economy is almost certainly expected to receive a new wave of rating upgrades which may result in Cyprus Government rating exiting its junk status.