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    MAS Amends Notices on NSFR and Single Counterparty Credit Exposures

    December 13, 2019

    MAS published amendments to the Notice 652 on net stable funding ratio (NSFR) and Notice 656 on exposures to single counterparty groups for banks incorporated in Singapore. MAS Notice 652 (Amendment No. 2) 2019 reflects amendments to clarify the available stable funding factor applicable to operational deposits that are fully covered by deposit insurance. The amendments to Notice 652 shall take effect on December 31, 2019. MAS Notice 656 (Amendment) 2019 reflects amendments to clarify the scope of exemption for intraday exposures to a bank and to clarify the treatment of exposures arising from covered bonds issued by a bank or mortgage institution through a special purpose vehicle. The amendments to Notice 656 shall take effect on October 01, 2020.

    Notice 652 applies to all domestic systemically important banks, or D-SIBs, and internationally active banks. The notice sets out the minimum all currency NSFR requirements that a bank must comply with. Notice 656 applies to all locally incorporated banks and sets out the limits on exposures of a reporting bank to a single counterparty group, the types of exposures to be included in or excluded from those limits, the basis for computation of exposures, the eligible credit risk mitigation techniques, and the approach for aggregation of exposures.

     

    Effective Date: December 31, 2019 (Notice 652); October 01, 2020 (Notice 656)

    Keywords: Asia Pacific, Singapore, Banking, MAS Notice 652, MAS Notice 656, D-SIBs, NSFR, SCCL, Counterparty Credit Risk, Credit Risk, Liquidity Risk, Reporting, Basel III, MAS

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