MAS welcomes positive assessment by Basel Committee
The Basel Committee on Banking Supervision (BCBS) says Singapore's banking regulations are compliant with the capital standards under the Basel Framework 2.
This according to the BCBS Regulatory Consistency Assessment Programme report of Singapore.
The capital standards under the Basel framework set out the global standards on bank capital adequacy.
A regulatory framework is considered compliant with the Basel framework if all minimum requirements of the international framework are met.
The Monetary Authority Of Singapore (MAS) welcomes this positive assessment of Singapore's regulations.
Teo Swee Lian, Deputy Managing Director, MAS said:
"MAS is committed to ensuring full, timely and consistent implementation of Basel III in Singapore. Maintaining high standards of financial regulation in Singapore will strengthen the resilience of our banks and stability of our financial system."
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