Business April 15, 2021 KARACHI: The government has assured International Monetary Fund (IMF) that three local banks, short of central bank’s minimum capital requirement (MCR), are expected to meet these regulatory standards in the third quarter of 2021, The News has learnt. “The government is closely monitoring the health of the financial sector to safeguard its resilience,” said the IMF staff report, citing the memorandum of economic and financial policies attached with the letter of intent of the government on the economic programme under the Extended Fund Facility (EFF). “We remain engaged with two non-systemic private sector banks and one public sector bank to ensure compliance with the MCRs. However, due to technical difficulties during the crisis, the deadlines to ensure the compliance with the capital requirements have been reset to end September 2021,” the government told the IMF.