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Banks set to face new CAR regulations
Source: Xinhua |
June 10, 2011, Friday
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Print Edition
Print Edition
THE China Banking Regulatory Commission yesterday said it is drafting new regulations concerning capital adequacy ratio amid tight capital reserve among banks.
A CBRC spokesman said it will solicit public opinions on the new rules and open the topic for discussion, though he believes the revision will only have a limited impact on banks' current CAR levels.
The revision is designed to ensure China's banking industry comply with the Basel III framework, a set of new global banking requirements agreed to by the Group of 20 leaders at the end of last year, the spokesman said.
The CBRC announcement comes at a time when Chinese banks plan to raise funds in the coming months to replenish their capital base due to last year's lending binge.
Earlier last month, the CBRC unveiled stricter regulations for commercial banks to help improve their capabilities in combating risks.
The new standards set the minimum CAR for systematic significant banks at 11.5 percent while non-systematic significant lenders need to have 10.5 percent from 2012.
The CBRC said the average CAR of commercial banks was 11.8 percent at the end of March, down 0.4 percentage point from the end of 2010.
The CAR for the Agricultural Bank of China, one of the four largest state-owned banks, fell to 11.4 percent in the first quarter of this year, below the CBRC's requirement, forcing the lender to issue bonds worth 50 billion yuan (US$7.7 billion) to boost CAR.
A CBRC spokesman said it will solicit public opinions on the new rules and open the topic for discussion, though he believes the revision will only have a limited impact on banks' current CAR levels.
The revision is designed to ensure China's banking industry comply with the Basel III framework, a set of new global banking requirements agreed to by the Group of 20 leaders at the end of last year, the spokesman said.
The CBRC announcement comes at a time when Chinese banks plan to raise funds in the coming months to replenish their capital base due to last year's lending binge.
Earlier last month, the CBRC unveiled stricter regulations for commercial banks to help improve their capabilities in combating risks.
The new standards set the minimum CAR for systematic significant banks at 11.5 percent while non-systematic significant lenders need to have 10.5 percent from 2012.
The CBRC said the average CAR of commercial banks was 11.8 percent at the end of March, down 0.4 percentage point from the end of 2010.
The CAR for the Agricultural Bank of China, one of the four largest state-owned banks, fell to 11.4 percent in the first quarter of this year, below the CBRC's requirement, forcing the lender to issue bonds worth 50 billion yuan (US$7.7 billion) to boost CAR.
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