FX reserves to be part of banks’ core capital: SBP

By MG News | January 27, 2025 at 10:30 AM GMT+05:00

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January 27, 2025 (MLN): The State Bank of Pakistan (SBP) has decided to treat Foreign Exchange (FX) Translation Reserves as part of Common Equity Tier-1 (CET-1) Capital, effective December 31, 2024.

This update, detailed in BPRD Circular Letter No. 02 of 2025, was communicated to all banks and Development Finance Institutions (DFIs).

The decision is aligned with the Basel III guidelines issued earlier through BPRD Circular No. 6 of 2013.

The SBP clarified that all other instructions under the Basel III framework will remain unchanged.

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