Singapore said it will raise capital rules for local lenders to more than the global minimum to solidify the city’s reputation as a financial hub after regulators tightened norms for the world’s biggest banks.
Lenders incorporated in Singapore will need to meet a minimum common equity Tier 1 capital adequacy ratio of 6.5 percent from Jan. 1, 2015, the Monetary Authority of Singapore said in a statement today. That’s 2 percentage points more than the so-called Basel III rules announced last year. Full story
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Singapore banks to face tougher capital rules than Basel III - Reuters
Singapore Banks to Face Tougher Capital Rules Than Basel III - CNBC
