Following is the text of a speech to be delivered today by Bank of Canada Governor Mark Carney to the International Center for Monetary and Banking Studies in Geneva, Switzerland. The text was released in Ottawa. The footnotes and charts from the original version have been removed from this text.
Turkiye Is Bankasi AS’s capital adequacy ratio may fall between 50 basis points and 60 basis points as Turkey’s banking industry switched to Basel II, Bloomberg HT television reported today, citing bank’s chief executive Adnan Bali.
Turkey’s fine-tuning of the Basel II capital rules limits their impact on banks, protecting Turkiye Is Bankasi AS, Turkiye Vakiflar Bankasi TAO and Yapi & Kredi Bankasi AS from falling below required capital requirements, brokerage BGC Partners said.
Ask David Conner, chief executive officer of Singapore’s Oversea-Chinese Banking Corp., what makes a world-class bank and he smiles and tells the story of how he was hired. It was April 2002, and Singapore’s banks faced a struggling economy, poor demand for credit and rising competition from foreign lenders that had just won greater access to the Singaporean market.