Large account holders in Cyprus' main bank look set to lose more money than originally predicted as part of the terms under the new €10 billion bailout.

Further conditions are expected to be announced today which would see anyone with deposits over €100,000 at the Bank of Cyprus given shares of 37.5 per cent in the bank, while the remainder of the money in their accounts may never be returned.

Officials had previously said that large accounts would face a haircut of up to 30 or 40 per cent.