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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Good news for finance companies ----- LFIN , VFIN, LOLC,CDB,PLC......

Good news for finance companies ----- LFIN , VFIN, LOLC,CDB,PLC......

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Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Sri Lanka will hike capital requirements for finance companies to Rs2.0 billion and leasing companies to Rs1.0 billion, and voluntary consolidation was encouraged, Central Bank Governor Indrajit Coomaraswamy said.

At the moment, finance companies have a core capital requirement of Rs400 million and leasing companies Rs300 million.

Liquidity ratios of finance and leasing companies would also be increased, he said.

The Non-Bank Financial Institutions supervision unit will be strengthened, he said.

A resolution mechanism would also be devised.

EquityChamp

EquityChamp
Moderator
Moderator
What if they announce a rights issue?

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Being a risk weighted exposure it ensures absorbing a considerable volume of losses before winding-up stage. It serves to protect depositors/investors while promoting the stability & the efficiency of financial system. Further the action to be implemented would slow down the mushroom type new entrants to the market. Usual reaction from financial institution on this new proposal is to be expected.

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