The Governor of the Bank of Mongolia, N. Bayarsaikhan, stated that the results of an asset quality review (AQR) of Mongolia's commercial banks carried out in 2016 will be confirmed by the third quarter of 2017.
After the conformation of the AQR data, and external audit will be conducted. Based on the AQR and audit results, banks will draft new plans to raise capital.
The BoM will conduct a stress test among the banks and give them six months to raise their capital.
N. Bayartsaikhan said last week that no problems with the banking sector were revealed by the preliminary results of the AQR. As of September 2017, the total assets of Mongolia's 14 commercial banks totaled 28 trillion MNT and loans were at 13.1 trillion MNT.
Securities purchases from the BoM reached 1.9 trillion MNT as of September 2017. Government securities held by banks dropped to 3.4 trillion MNT due to the government’s revisions to securities trading.
The Governor of the Bank of Mongolia, N. Bayarsaikhan, stated that the results of an asset quality review (AQR) of Mongolia's commercial banks carried out in 2016 will be confirmed by the third quarter of 2017.
After the conformation of the AQR data, and external audit will be conducted. Based on the AQR and audit results, banks will draft new plans to raise capital.
The BoM will conduct a stress test among the banks and give them six months to raise their capital.
N. Bayartsaikhan said last week that no problems with the banking sector were revealed by the preliminary results of the AQR. As of September 2017, the total assets of Mongolia's 14 commercial banks totaled 28 trillion MNT and loans were at 13.1 trillion MNT.
Securities purchases from the BoM reached 1.9 trillion MNT as of September 2017. Government securities held by banks dropped to 3.4 trillion MNT due to the government’s revisions to securities trading.