MAS Responds to Feedback on Large Exposures Framework in Singapore
MAS published its response to the feedback received on proposed revisions to the regulatory framework for large exposures of Singapore-incorporated banks. The consultation was open from January 03, 2018 to February 12, 2018. Based on feedback received, MAS has extended the implementation date of revisions to the large exposures framework to September 30, 2019. Earlier, MAS had proposed proposed the effective date of January 01, 2018, which is also the implementation date stipulated by BCBS for implementation by the member jurisdictions. Banks will be required to submit the regulatory reporting schedules no later than the 14th of the second month following the end of each semi-annual period and to commence semi-annual reporting for positions as at December 31, 2019.
MAS sets out the regulatory requirements on large exposures of a bank under the Banking Act and MAS Notice 639 on Exposures to Single Counterparty Groups. The revisions will strengthen the regulatory framework for addressing concentration of exposures to counterparties and limiting the maximum loss that a bank faces in the event of a sudden counterparty default. Exposure measurement methods for the purpose of the revised large exposures requirements will also be aligned to the risk-based capital framework, where appropriate. The objective of these requirements is to limit the concentration and contagion risks arising from a bank’s exposures to a counterparty or a single counterparty group. The proposed revisions take into account relevant aspects of the “Supervisory framework for measuring and controlling large exposures,” which BCBS had published in April 2014. These revisions will replace the requirements currently set out in MAS Notice 639 for the Singapore-incorporated banks.
Keywords: Asia Pacific, Singapore, Banking, Large Exposures, MAS Notice 639, Responses to Consultation, Reporting, MAS
Previous Article
OCC Updates “Other Real Estate Owned” Part of Comptroller’s HandbookRelated Articles
|
News
HKMA Decides to Maintain Countercyclical Capital Buffer at 2.5%HKMA announced that, in accordance with the Banking (Capital) Rules, the countercyclical capital buffer (CCyB) ratio for Hong Kong remains at 2.5%.
April 16, 2019
WebPage
Regulatory News
|
|
News
EP Approves Agreement on Package of CRD 5, CRR 2, BRRD 2, and SRMR 2The European Parliament (EP) approved the final agreement on a package of reforms proposed by EC to strengthen the resilience and resolvability of European banks.
April 16, 2019
WebPage
Regulatory News
|
|
News
FDIC Consults on Approach to Resolution Planning for IDIsFDIC approved an Advance Notice of Proposed Rulemaking (ANPR) and is seeking comment on ways to tailor and improve its rule requiring certain insured depository institutions (IDIs) to submit resolution plans.
April 16, 2019
WebPage
Regulatory News
|
|
News
EP Resolution on Proposal for Sovereign Bond Backed SecuritiesThe European Parliament (EP) published adopted text on the proposal for a regulation of the European Parliament and of the Council on sovereign bond-backed securities (SBBS).
April 16, 2019
WebPage
Regulatory News
|
|
News
PRA Seeks Input and Issues Specifications for Insurance Stress TestsPRA announced that it will conduct an insurance stress test for the largest regulated life and general insurers from July to September 2019.
April 15, 2019
WebPage
Regulatory News
|
|
News
PRA Finalizes Policy on Approach to Managing Climate Change RisksPRA published the policy statement PS11/19, which contains final supervisory statement (SS3/19) on enhancing banks’ and insurers’ approaches to managing the financial risks from climate change (Appendix).
April 15, 2019
WebPage
Regulatory News
|
|
News
EBA Single Rulebook Q&A: First Update for April 2019EBA published answers to nine questions under the Single Rulebook question and answer (Q&A) updates for this week.
April 12, 2019
WebPage
Regulatory News
|
|
News
EIOPA Statement on Application of Proportionality in SCR SupervisionEIOPA published a supervisory statement on the application of proportionality principle in the supervision of the Solvency Capital Requirement (SCR) calculated in accordance with the standard formula.
April 11, 2019
WebPage
Regulatory News
|
|
News
FED Updates Form and Supplemental Instructions for FR Y-9C ReportingFED updated the form and supplemental instructions for FR Y-9C reporting. FR Y-9C is used to collect data from domestic bank holding companies, savings and loan holding companies, U.S intermediate holding companies, and securities holding companies with total consolidated assets of USD 3 billion or more.
April 11, 2019
WebPage
Regulatory News
|
|
News
OSFI Finalizes Guidelines on Liquidity Adequacy and NSFR DisclosuresOSFI published the final Liquidity Adequacy Requirements (LAR) guideline and the net stable funding ratio (NSFR) disclosure requirements guideline.
April 11, 2019
WebPage
Regulatory News
|
