Philippine early implementation of Basel III capital ratios politically motivated
The decision to bring full Basel III compliance in five years ahead of the final deadline is based on politics rather than economics, according to one risk manager
The early implementation of Basel III capital ratios from January 1, 2014 by the Philippine Central Bank, rather than the phased approach laid out by the Basel Committee, is motivated by political considerations instead of economic fundamentals, according to the chief risk officer of one domestic bank.
While most of the large Philippine banks already meet the capital requirements, the early adoption of the capital standards is not necessary and may be part of an attempt to increase the country's
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