Sunday, April 19, 2015

Mongolia’s Central Bank Triples Capital Requirement of Banks to ₮50 Billion

April 19 (Cover Mongolia) The Bank of Mongolia (BoM) announced on Friday that it has raised the minimum capital requirements of commercial banks to 50 billion under a Governor's Resolution issued on April 1.

Banks will have varying deadlines but must comply at the latest by December 31, 2017.

BoM last raised it to 16 billion from May 1, 2013

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