TALLINN - Capital requirements for banks will be lowered temporarily in Estonia in the new year, Estonia’s central bank Eesti Pank announced, reports LETA. The new single capital adequacy requirement of 8 percent starts to apply for commercial banks in the European Union from the beginning of 2014. In consequence, the decree of the governor of Eesti Pank requiring banks operating in Estonia to have a minimum capital level of 10 percent will cease to apply, after more than fifteen years in effect.Member states of the European Union can apply additional capital requirements to b...
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