Its head, Archbishop Chrysostomos II, said he would put the church's assets at the country's disposal, saying the church was willing to mortgage its assets to invest in government bonds.

NPR: Cyprus Works On Plan B To Stave Off Bankruptcy

Mr. Gross's portfolio has been heavily concentrated on high-quality U.S. assets this year, led by mortgage-backed securities and Treasury bonds.

WSJ: Pimco Bond King Bill Gross Regains Investor Favor

Perhaps the most striking characteristics of today's agreement - which amends a draft first published in 2010 - is that banks will be allowed to include corporate bonds, some shares and high-quality residential mortgage backed securities in their permitted stocks of liquid assets.

BBC: Banks agree minimum liquidity rules