Australian banks granted capital buffer concessions.
BANKING AND CREDIT NEWS-July 9, 2019--Australian banks granted capital buffer concessions
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Global Banking News - 09 July 2019
The banking regulator in Australia has issued easier norms regarding capital buffers for the nation's largest banks.
The regulator eased its norms after banks submitted that they might not have the means to raise the necessary funds. The regulator has given the banks a deadline of January 2024 to lift their total capital by 3 percentage points of risk-weighted assets. The level was set at 4 to 5 percentage points earlier.
Bank regulators are taking steps to boost the loss-absorbing capacity of systemically important banks in a bid to safeguard the financial system in the event of another crisis.
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