In January 2011, banks were advised not to pay dividends, so as to improve their own funds. A similar recommendation was issued in January 2012. In early April 2011, banks were required to achieve a minimum Core Tier 1 ratio of 8 per cent by the end of 2011.
In late May 2011, under the adjustment programme, the Core Tier 1 ratio target was increased to 9 per cent. A minimum Core Tier 1 ratio target of 10 per cent by the end of 2012 was also set. These measures involve bringing key Basle III recommendations forward considerably.