Philippines central bank to implement Basel III liquidity rules
Central bank governor says local banks ready for the new rules
Banks in the Philippines should be able to cope with the liquidity coverage ratio (LCR) that the central bank will shortly introduce, but this may depend on what constitutes a high-quality liquid asset, says the governor of the country's central bank Amando Tetangco.
The Central Bank of the Philippines (BSP) has taken a tough line implementing Basel III: it required full compliance with the capital rules by 2014 and recently announced a 5% leverage ratio for its banks – one of the highest
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