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OCBC says already compliant with new liquidity rules

OCBC Bank has said it is already compliant with the new liquidity rules announced by the Monetary Authority of Singapore (MAS) earlier on Tuesday.

SINGAPORE: OCBC Bank has said it is already compliant with the new liquidity rules announced by the Monetary Authority of Singapore (MAS) earlier on Tuesday, June 24.

The lender said in a statement that it has been preparing to meet the requirements of Basel III over the last few years, and is already compliant with the new liquidity framework of a Singapore dollar Liquidity Coverage Ratio (LCR) of 100 percent and an all-currency LCR of 60 percent.

OCBC added that it has been holding a "comfortable" level of high quality liquid assets, which cushions the bank against various stress scenarios.

The LCR is a new international regulatory standard under the Basel III reforms that seeks to ensure banks hold sufficient high quality and liquid assets to match their total net cash outflows over a 30-day period.

MAS issued a public consultation paper in August last year to outline how it intended to implement the LCR framework in Singapore.  

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