Bank Of China Named Systemically Important Financial Institution

Date:2011-11-07houhaizhen  Text Size:

November 7 -- The Financial Stability Board (FSB) named 29 banks as systemically important financial institutions (SIFI) worldwide, of which Bank of China ( 601988.SH, 3988.HK) was the only bank to make the list, reports

As a SIFI, Bank of China will be required to raise its core capital adequacy ratio above the Basel III standards by 1-2.5 percent.

Industry insiders said though the additional requirement is beneficial for Bank of China's development in the long run, it may impact the bank's profitability in the near term.

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