S’pore Sets New Capital Levels For Banks

Singapore has decided to set capital levels for local lenders above the new Basel III regulations.

Singapore has decided to set capital levels for local lenders above the new Basel III regulations, Bloomberg reports. Banks will now be required to meet a minimum common equity tier one capital adequacy ratio of 6.5% from Jan. 1, 2015.

The new requirement issued by the Monetary Authority of Singapore is 2% more than Basel III capital rules. The Basel III capital rules are scheduled to be phased in from 2013 through 2019.

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