We followed up on the Consultation Paper on the Implementation of Basel III in Mauritius, which we issued in October 2012, by circulating a draft Guideline on Scope of Application of Basel III and Eligible Capital to the banking industry. This sets out the rules and tentative timelines to implement some of the elements of the stronger Basel III capital framework.
I would like to thank Governor Makúch for his kind hospitality and express our special gratitude to his staff for the excellent organisation of today’s meeting of the Governing Council.