EFSA Issues a New Capital Adequacy
EFSA Issues a New Capital Adequacy Requirement for Mortgage Finance Companies
The Egyptian Financial Supervisory Authority (“EFSA”) issued, on 6 August 2015, a new capital adequacy requirement for mortgage finance companies.[1] The new standard requires mortgage finance companies to maintain a 10% minimum capital adequacy based on detailed provisions stated in the EFSA Decree.
The new standard requires the companies to review the adequacy position quarterly, and is applicable as of the third quarter of 2015.
[1] EFSA Board of Directors' Decision No. 77/2015 , Egyptian Gazette, Issue No. 178, 6 August 2015
The Egyptian Financial Supervisory Authority (“EFSA”) issued, on 6 August 2015, a new capital adequacy requirement for mortgage finance companies.[1] The new standard requires mortgage finance companies to maintain a 10% minimum capital adequacy based on detailed provisions stated in the EFSA Decree.
The new standard requires the companies to review the adequacy position quarterly, and is applicable as of the third quarter of 2015.
[1] EFSA Board of Directors' Decision No. 77/2015 , Egyptian Gazette, Issue No. 178, 6 August 2015