CBR to introduce extra bank capital requirements under Basel III in Oct 2013
SOCHI. Sept 6 (Interfax) - The Central Bank of Russia (CBR) plans to introduce additional requirements for Russian banks' common equity and Tier 1 capital adequacy in the framework of the Basel III standards on October 1, 2013, the bank's Deputy Chairman Mikhail Sukhov said at the International Banking Forum in Sochi.
"We consider it possible to start a parallel calculation of capital starting on April 1 of next year so that on October 1, if there are not any dramatic changes in the capitalization sphere, we can transition to calculating capital adequacy to the Basel III standards," he said, noting that these requirements envisage the presence of three capital adequacy norms.
The CBR expects to keep the existing capital adequacy bar at 10%, as well as introduce interim figures of 5.6% and 7.5% for common equity and Tier 1 capital, Sukhov said.
Additional requirements for capital will be actively discussed with the banking community in the near future, he said.
