Resources for Basel II Capital Accord (Basel II)

London Scottish to increase cash reserves under Basel II

www.moneymarketing.co.uk

London Scottish Bank has been advised by the FSA to raise the money held in its cash reserves as new rules came into effect yesterday.

It is adopting what is referred to as an individual capital guidance from January 1, which specifies the amount of regulatory capital a bank must hold.The interim ICG will apply to the bank until it submits its revised assessment of the required capital and the FSA has set a formal ICG.

On January 1, 2007 the rules under Basel II came into effect with the capital reserves directive, requiring firms to increase the capital they hold.

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