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The International Financial Services Centres Authority issues a corrigendum to modify the computation of Credit Risk Weighted Assets. Finance Companies and Finance Units apply the Standardized Approach under BASEL III instead of the Internal Rating Based Approach. All affected entities take note of the change and ensure compliance.
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International Financial Services Centres Authority Banking Department Finance Company/Unit Division
May 06, 2021
CORRIGENDUM
‘Circular No. F. No 172/IFSCA/Finance Company/Unit Regulations/2021-22/2’ Computation of Regulatory Capital, dated April 26, 2021
With respect to the captioned circular in paragraph no. 5 for computation of Credit Risk Weighted Assets, the Standardized Approach as prescribed under BASEL III (refer BASEL document titled ‘International Convergence of Capital Measurement and Capital Standards: A Revised Framework – Comprehensive Version, June 2006) shall be applicable in place of "Internal Rating Based Approach" that was inadvertently mentioned in the said circular.
Yours faithfully,
(R. Kumar) Head, Banking Division rag.kumar@ifsca.gov.in
