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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.
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.
