Friday, November 2 2012 15:56
Head of Armenian Central Bank to attend Banking Supervision Seminar Basel III in Vienna
ArmInfo. Head of the Armenian Central bank Arthur Javadyan will attend a seminar on banking supervision Basel III in Vienna on Nov 2-4. The event is organized by the Central Bank and Global Association of Risk Professional (CARP). The press-service of the Armenian CB told ArmInfo representatives of Armenian commercial banks are also expected to attend the event.
To recall, in January 2013 Basel Committee on Banking Supervision introduced new regulatory requirements on bank liquidity and bank leverage for 2015. New Basel III liquidity Rules aim to prevent repetition of the financial crisis of 2008. Banks are mainly concerned over the liquidity coverage ratio (LCR) implying that short-term liabilities with maturity of 30 days must be covered by liquidity assets by 100%. This requirement will come into effect in 2015.
"After introduction of LCR, it will apply to the period of normal functioning of markets. However, we expect that in the period of stress banks will use pool of liquidity assets, and the given requirement will be violated temporarily," the Committee reported earlier.
The Basel Committee, established by the central-bank Governors of the Group of Ten countries at the end of 1974, meets regularly four times a year. Now, 27 countries are involved in the Committee, including Russia. The European Commission is an observer at the Committee.
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