For example, the capital instruments that are no longer eligible for inclusion in CET1 capital will not be excluded in one fell swoop; instead, they will be phased out over a period of several years. Furthermore, increasing requirements regarding the level of capital to be held will be introduced only gradually.
I wish to thank the Board and CEO of Women’s Micro Bank Ltd (WMBL) for the invitation to officiate in today’s event in what promises to be a historic milestone in PNG’s micro finance industry, a women’s only micro bank.