The Hong Kong government expects to have the final rules on Basel III capital requirements for locally incorporated banks in force by the G-20's deadline of January 1, 2013.
A joint statement by the Hong Kong Financial Services and the Treasury Bureau and the Hong Kong Monetary Authority (HKMA), said the legislation would be tabled on October 24, "with a view to commencement" on January 1.
The legislation addresses the first phase of the Basel III regulations, focusing on a Tier 1 capital ratio
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