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Foreign Bank Branches (FBBs) are not required to maintain capital in Kingdom of Saudi Arabia although a quasi-capital in the form of a Funding Ratio requirement may be set on a case-by-case basis, for example, those intending to conduct high-risk businesses and/or wanting to specialise in particular business lines such as significant retail business operations that require specific level of capacity or competence.
57.
These requirements are applicable to FFBs that are engaged in significant retail activities in respect of their business in the Kingdom of Saudi Arabia (KSA).
58.
A significant retail FBB is, at a minimum, required to maintain at the greater of SAR one (1) billion or eight (8) per cent of FBB’s Total Risk Weighted Assets (Pillar 1 and Pillar 2 risks). The FBB must maintain the required Funding Ratio at all times, regardless of reporting frequency.
59.
The Pillar 1 Risk Weighted Assets shall be that of the KSA branch. The Pillar 2 RWAs shall be that assigned for the KSA business by the Head Office.
60.
SAMA may require a FBB to maintain additional assets where in the opinion of SAMA they are necessary to protect retail depositors of the FBB.
