MAS Amends Notices 649, 651, 652, and 653 for Banks in Singapore
MAS published amendments to its Notice 652 and 649, along with amendments to disclosure requirements under MAS Notices 651 and 653. Additionally, MAS amended the reporting form associated with Notice 652, along with the Forms 1 and 2 associated with Notice 649. The revised notices and forms will take effect from October 01, 2019. MAS Notice 649 addresses minimum liquid assets and liquidity coverage ratio (LCR) requirements, Notice 651 addresses disclosures for LCR and internal liquidity risk measurement, Notice 652 addresses net stable funding ratio (NSFR), and Notice 653 addresses NSFR disclosures for banks in Singapore.
Notices 651, 652, and 653 apply to all domestic systemically important banks (D-SIBs) and internationally active banks while Notice 649 applies to all banks in Singapore. Notice 651 sets out requirements for a bank to disclose quantitative and qualitative information about their LCRs. It also sets out requirements for a bank to disclose information on its internal liquidity risk measurement and management framework, in addition to information to enable market participants to better understand its liquidity risk management and positions. Notice 653 sets out requirements for a bank to disclose quantitative and qualitative information about its NSFR.
Effective Date: October 01, 2019
Keywords: Asia Pacific, Singapore, Banking, LCR, NSFR, D-SIBs, Reporting, Disclosures, Liquidity Risk, Basel III, MAS
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Karen Moss
Senior practitioner in asset and liability management (ALM) and liquidity risk who assists banking clients in advancing their treasury and balance sheet management objectives
Previous Article
FDIC Proposes Revisions to the Stress Testing RegulationRelated Articles
BIS and Central Banks Experiment with GenAI to Assess Climate Risks
A recent report from the Bank for International Settlements (BIS) Innovation Hub details Project Gaia, a collaboration between the BIS Innovation Hub Eurosystem Center and certain central banks in Europe
Nearly 25% G-SIBs Commit to Adopting TNFD Nature-Related Disclosures
Nature-related risks are increasing in severity and frequency, affecting businesses, capital providers, financial systems, and economies.
Singapore to Mandate Climate Disclosures from FY2025
Singapore recently took a significant step toward turning climate ambition into action, with the introduction of mandatory climate-related disclosures for listed and large non-listed companies
SEC Finalizes Climate-Related Disclosures Rule
The U.S. Securities and Exchange Commission (SEC) has finalized the long-awaited rule that mandates climate-related disclosures for domestic and foreign publicly listed companies in the U.S.
EBA Proposes Standards Related to Standardized Credit Risk Approach
The European Banking Authority (EBA) has been taking significant steps toward implementing the Basel III framework and strengthening the regulatory framework for credit institutions in the EU
US Regulators Release Stress Test Scenarios for Banks
The U.S. regulators recently released baseline and severely adverse scenarios, along with other details, for stress testing the banks in 2024. The relevant U.S. banking regulators are the Federal Reserve Bank (FED), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
Asian Governments Aim for Interoperability in AI Governance Frameworks
The regulatory landscape for artificial intelligence (AI), including the generative kind, is evolving rapidly, with governments and regulators aiming to address the challenges and opportunities presented by this transformative technology.
EBA Proposes Operational Risk Standards Under Final Basel III Package
The European Union (EU) has been working on the final elements of Basel III standards, with endorsement of the Banking Package and the publication of the European Banking Authority (EBA) roadmap on Basel III implementation in December 2023.
EFRAG Proposes XBRL Taxonomy and Standard for Listed SMEs Under ESRS
The European Financial Reporting Advisory Group (EFRAG), which plays a crucial role in shaping corporate reporting standards in European Union (EU), is seeking comments, until May 21, 2024, on the Exposure Draft ESRS for listed SMEs.
ECB to Expand Climate Change Work in 2024-2025
Banking regulators worldwide are increasingly focusing on addressing, monitoring, and supervising the institutions' exposure to climate and environmental risks.