Banks in the Philippines prepared to meet Basel III standards - OBG

Banks in the Philippines prepared to meet Basel III standards

Lenders in the Philippines are readying themselves for a further tightening of regulatory oversight, with the requirements of Basel III, as adapted by the Bangko Sentral ng Pilipinas (BSP), the central bank, due to come into effect at the beginning of next year. While the transition is not expected to be overly burdensome, the cost of greater security could be a short-term dip in profits.
The BSP requires banks to maintain a capital adequacy ratio (CAR) of 10%, already higher than the 8% mandated by the Basel II rules. While the 10% limit will be retained after January 1, ... Read more.

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