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April 09, 2018

MAS issued a consultation paper on proposed regulatory capital treatment of banks’ holdings of TLAC liabilities under MAS Notice 637. The proposed amendments are intended to implement the requirements on TLAC holdings, in line with the Basel III final standard issued by BCBS. MAS invites comments from Singapore-incorporated banks and other interested parties by May 09, 2018.

MAS proposed to introduce an additional 5% threshold for non-regulatory capital TLAC holdings in accordance with the Basel standard on TLAC holdings. MAS also proposed that the additional 5% threshold may be used only for non-regulatory capital TLAC holdings that meet the following conditions:

  • The holding is in the trading book of a bank.
  • The holding is sold within 30 business days of the date of its acquisition.

The proposed amendments are intended to take effect from January 01, 2019. The amendments seek to limit contagion within the financial system if a global systemically important bank were to enter resolution. The draft amendments to the Notice, including other technical amendments to Part XI on Public Disclosure Requirements are in Annex A.

 

Comment Due Date: May 09, 2018

Effective Date: January 01, 2019

Keywords: Asia Pacific, Singapore, Banking, Basel III, TLAC, Notice 637, Regulatory Capital, MAS

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