Lebanese banknotes displayed at an exchange office in Beirut, Wednesday, Nov. 8, 2017. (The Daily Star/Mohammad Azakir)
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The international ratings agency Moody's has described Lebanon's implementation of the Basel liquidity coverage ratio as credit positive.Lebanon's Central Bank issued a circular of the basic decision on March 8, instructing all banks, with the exception of Islamic banks, to apply the LCR on their domestic and foreign operations.Moody's said it expects that Lebanese banks already meet the LCR requirements.However, Moody's said that "banks may not be able to quickly convert Lebanese sovereign instruments into cash with little or no loss of value in private markets during a 30-day liquidity stress scenario, as per Basel guidance.
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