China has handed banks a formal timetable for implementing the tougher Basel III capital requirements, ending months of uncertainty about how the rules would be phased in.
Chinese regulators had initially said they would push for an extremely rapid implementation of the new capital standards, but they have instead opted for a more gradual approach amid concerns about how weak banks would be able to raise the necessary equity.
The country’s biggest banks will need to have capital adequacy ratios of 9.5 per cent by the end of next year and 11.5 per cent by the end of 2018, giving them a six-year grace period to hit that target.
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