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UAE says to propose new capital, liquidity rules in H2 2014
June 8, 2014 / 6:15 AM / 3 years ago

UAE says to propose new capital, liquidity rules in H2 2014

DUBAI, June 8 (Reuters) - The central bank of the United Arab Emirates plans to introduce new rules on liquidity and begin consulting with banks on a new capital regime which is in line with the Basel III framework in the second half of 2014, it said on Sunday.

The new rules on capital will include requirements for enhanced capital, the application of a new leverage ratio and a shift in definition of capital which places greater emphasis on paid-up capital, retained earnings and disclosed reserves, it said in its annual financial stability report.

The report also said the country’s financial system could grow faster without creating major imbalances in the system and that there was currently no build-up of vulnerabilities in the banking system. (Reporting by Martin Dokoupil; Writing by David French; Editing by Olzhas Auyezov)

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