HKMA’s Yuen urges banks to take action now on Basel III LCR; warns of negative impact for corporate debt markets
Banks should begin preparing in earnest to meet the Basel III liquidity requirements as regulators begin the process of supervising banks’ compliance with the new rules, according to the deputy chief executive of the HKMA.
The Hong Kong Monetary Authority (HKMA) will next month approach banks in Hong Kong to start the process of calculating the strict liquidity coverage ratio (LCR) under the Basel III rules finalised on December 16 last year, according to Arthur Yuen, deputy chief executive of the bank regulator.
Speaking at an Asia Risk Basel III training seminar in Hong Kong this morning, Yuen warned that the 2013-2019 timelines for implementation set out by the Basel Committee on Banking Supervision were
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