Singapore’s banks will have “no problem” meeting the requirements of the new Basel III banking rules, said Teo Swee Lian, deputy managing director of financial supervision at the Monetary Authority of Singapore.

“Banks in this part of the world are well-capitalised,” Teo said at a press conference today. “The question of frontloading the reforms won’t arise” in Singapore because its banks have been conservative, she said.

Regulators of the Basel Committee on Banking Supervision reached an agreement Sept. 12 for rules that more than double capital requirements for banks, while giving them as long as eight years to comply.