RegAlert2013-01-27
Added · Updated
Basel II Instructions: Minimum Capital Adequacy Ratio
The Central Bank of Egypt mandates that banks operating in Egypt, excluding branches of foreign banks, maintain a minimum capital adequacy ratio of 10% between core capital elements and risk-weighted assets to cover credit, market, and operational risks. Foreign bank branches are subject to the attached instructions except for this specific retention ratio. Banks must comply with these controls starting in December 2012 or June 2013 depending on their fiscal year-end, with a maximum six-month transition period for parallel reporting to ensure data validity. Non-compliance requires submission of a specific timeline to the Supervision and Control Sector, and previous capital adequacy regulations are repealed after the transition period.
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Cairo: 24 December 2012
Greetings and,
Following,
In light of the directive addressed to the Central Bank of Egypt to apply international best practices in line with developments in the banking market and in the context of the strategy announced by Governor Dr. [Name] during the meeting held in October 2009 regarding the implementation of Basel decisions in the presence of the heads of Egyptian banks, and referring to the discussion papers and quantitative impact study models issued in this regard.
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Lineage: In force
Source: Central Bank of Egypt — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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