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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