Business Services Industry
S.KOREA'S CENTRAL BANKER WARNS OF NEGATIVE IMPACT FROM BASEL II.
AsiaPulse News, November, 2004
SEOUL, Nov 9 Asia Pulse - South Korean banks may cut back in lending to small businesses as they attempt to meet a new international rule on capital adequacy, Bank of Korea Gov. Park Seung said Tuesday.
The warning comes as the Basel-based Bank for International Settlements, the club of central banks, prepares to implement a new rule on capital adequacy, called Basel II, from the end of 2006.
Local banks are scrambling to meet the new requirements of the rule, which call for a stricter assessment of lending risks than the currently observed Basel I.
Current capital rules call for banks to have capital equivalent to 8 per cent of outstanding loans and other risk-weighted assets.
Basel II assigns a weight of zero to loans on highly rated...
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