Featured Product

    MAS Decides Not to Amend Capital Adequacy Rules for Merchant Banks

    February 01, 2019

    MAS published the response to feedback received on proposed amendments to MAS Notice 1111 on risk-based capital adequacy requirements for merchant banks in Singapore. Based on the responses received and certain other factors, MAS has decided not to proceed with the proposed amendments to MAS Notice 1111 and will continue to apply the existing requirements under this notice.

    In October 2014, MAS had consulted on the amendments to MAS Notice 1111 to strengthen the capital framework for merchant banks by incorporating key components of the Basel III capital standards as were then set out by BCBS. Annex A contains the list of respondents to the consultation. Some respondents supported adopting key components of the Basel III capital standards in the capital framework for Singapore-incorporated merchant banks, to enhance their resilience in times of stress. Other respondents commented that the nature of activities and risks undertaken by merchant banks should be considered in determining the appropriate capital standards.

    In December 2017, BCBS had finalized reforms to the Basel III capital standards that apply to internationally active banks, while giving national supervisors the discretion to apply prudential standards to banks that are not internationally active. In this context, MAS will not proceed with the proposed amendments to MAS Notice 1111. The existing risk-based capital requirements under MAS Notice 1111 will continue to apply to Singapore-incorporated merchant banks. MAS will consider the appropriateness of the revised Basel capital standards for merchant banks, and consult the industry on any proposed revisions.

     

    Keywords: Asia Pacific, Singapore, Banking, Basel III, Capital Adequacy, Risk-based Capital Requirements, MAS Notice 1111, MAS

    Featured Experts
    Related Articles
    News

    HKMA Enhances Loan Guarantee Scheme to Alleviate Pressure on SMEs

    HKMA announced that enhancements will be made to the Special 100% Loan Guarantee of the SME Financing Guarantee Scheme (SFGS) and the application period will be extended to December 31, 2021.

    February 24, 2021 WebPage Regulatory News
    News

    BoE Sets Out Plan to Transform Data Collection from Financial Sector

    BoE has set out a three-phased plan to transform data collection from the UK financial sector over the next decade.

    February 23, 2021 WebPage Regulatory News
    News

    BIS Issues Updates on Technology Initiatives on Cross-Border Payments

    BIS recently made a couple of announcements with respect to the planned and ongoing work in the area of financial technology.

    February 23, 2021 WebPage Regulatory News
    News

    ESRB Updates List of Macro-Prudential Measures in February 2021

    ESRB updated the list of national macro-prudential measures applied by each member state in the European Economic Area.

    February 22, 2021 WebPage Regulatory News
    News

    BoE Survey Shows Positive COVID Impact on Outsourced Banking Services

    BoE has set out results of a survey on the impact of COVID-19 events on the use of machine learning and data science.

    February 22, 2021 WebPage Regulatory News
    News

    ECB Issues Opinion on Proposal to Regulate Crypto-Asset Markets in EU

    In response to a request from the European Council and Parliament, ECB published an opinion on the proposed regulation on markets in crypto-assets.

    February 22, 2021 WebPage Regulatory News
    News

    APRA Announces Aggregate Committed Liquidity Facility for Banks

    APRA announced the updated aggregate amounts for the 2021 Committed Liquidity Facility (CLF) established between the Reserve Bank of Australia (RBA) and certain locally incorporated authorized deposit-taking institutions that are subject to the Liquidity Coverage Ratio (LCR).

    February 19, 2021 WebPage Regulatory News
    News

    ECB and UK Authorities Agree on Post-Brexit Supervisory Cooperation

    ECB published supervisory Memorandums of Understanding (MoUs) with UK as well as other European and non-European authorities.

    February 19, 2021 WebPage Regulatory News
    News

    EIOPA Outlines Strategic Supervisory Priorities for Insurance Sector

    EIOPA identified business model sustainability and adequate product design as the two EU-wide strategic supervisory priorities.

    February 19, 2021 WebPage Regulatory News
    News

    US Agencies to Revise FFIEC 031, FFIEC 041, and FFIEC 051 Reports

    After considering comments received on the November 2020 proposal, US Agencies (FDIC, FED and OCC) are proceeding with the proposed revisions to the reporting forms and instructions for Call Reports FFIEC 031, FFIEC 041, and FFIEC 051.

    February 19, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6618