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Indonesia will not be affected by G20 financial reform: official

07-01-2010 14:48 BJT

JAKARTA, July 1 (Xinhua) -- An Indonesian central bank senior official said the country's banks will not be troubled by financial reforms proposed at G20 meeting as most of the banks have already met the recommended capital and liquidity regulations, local media reported Thursday.

Indonesian Central Bank's Deputy Governor Halim Alamsyah said that the tightening of financial sector as agreed during the Toronto G20 Summit would bring no damages to Indonesian banks.

"We have seen, for example, a suggestion for banks to have a Tier I definition or the so-called 'paid-up capital' in the Indonesian context, as part of efforts to improve the quality of capital in the banking sector. Generally speaking, we will met no problems in the implementation of this regulation," Halim was quoted as saying by the Jakarta Post daily.

He said the requirements for banks to have more capital and better equip themselves against risks would be finalized in the Seoul meeting scheduled in November this year under the proposals by the Switzerland-based Basel Committee on Banking System.

Editor:Du Xiaodan |Source: Xinhua

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