Regulatory Alerts2014-12-23 | 02/17/402/0073/002Enhancement of Minimum Capital Requirement of Banks - LCB
The Central Bank of Sri Lanka mandates all licensed domestic commercial banks to increase their core capital to Rs. 10 billion under Section 19(3) of the Banking Act. This enhancement, aligned with the January 2014 Financial Sector Consolidation Master Plan, applies to banks incorporated or established within Sri Lanka and defines qualifying capital according to the 2007 Capital Adequacy Ratio guidelines. The requirement takes effect on 1 January 2016, requiring banks to implement timely compliance measures ahead of the deadline.
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