- POSTED: 24 Jun 2014 22:40
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.