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1. Zhou Xiaochuan: China may raise financial institutions'capital requirements
Zhou Xiaochuan Governor of PBOC
China needs to adopt a "cautious macroeconomic framework" and should require financial institutions to boost their stores of capital, People s Bank of China Gov. Zhou Xiaochuan said on Friday in a speech at the Lujiazui Forum in Shanghai. Large, systematically important bank especially should be subject to higher capital requirements, Zhou said. China s banking regulator announced new rules earlier this month bringing the country s banking sector into step with the new global banking regulatory framework, Basel III. Under the new regulations, systemically important financial institutions will need to maintain a minimum capital adequacy ratio of 11.5 percent, and other financial institutions must sustain a capital adequacy ratio of 10.5 percent. The new rules will begin to take effect in 2012, with banks expected to meet the requirements by 2016.
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