Saudi banks have reported liquidity coverage ratios (LCRs) above 100 percent, which is the Basel III required coverage percentage by 2018, the Saudi Arabian Monetary Authority (SAMA) said.

 

Banks have already started to implement this requirement years ago without any negative implications on funding local projects, Al-Eqtisadiyah reported, citing SAMA Deputy Governor Ahmed Al Al-Sheikh.

 

SAMA had asked banks in the Kingdom to comply with Basel III requirements starting in 2016 and until 2019, according to data compiled by Argaam. 

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