Brazil imposes stricter bank equity requirements

BRAZIL - Brazil's central bank has raised the equity requirement for banks holding US dollars, in a bid to halt the local currency's slide against the dollar, Brazilian central bank regulations director Sergio Darcy was quoted as saying by local press.

Under the new measure for every 100 reais that have "exchange risk" banks must have 75 reais in net equity, up from 50 reais, Business News Americas reported.

Financial institutions have five business days to comply with the measure, which is exp