General Information & Client Services
  • Americas: +1.212.553.1653
  • Asia: +852.3551.3077
  • China: +86.10.6319.6580
  • EMEA: +44.20.7772.5454
  • Japan: +81.3.5408.4100
Media Relations
  • New York: +1.212.553.0376
  • London: +44.20.7772.5456
  • Hong Kong: +852.3758.1350
  • Tokyo: +813.5408.4110
  • Sydney: +61.2.9270.8141
  • Mexico City: +001.888.779.5833
  • Buenos Aires: +0800.666.3506
  • São Paulo: +0800.891.2518
January 03, 2018

MAS is seeking feedback on proposed revisions to the regulatory framework for large exposures of Singapore-incorporated banks. The proposals will apply only to Singapore-incorporated banks and are intended to be implemented from January 01, 2019, which is also the implementation date stipulated by BCBS for implementation by the member jurisdictions. Comments on this consultation are due by February 12, 2018.

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 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 published in April 2014. These revisions will replace the requirements currently set out in MAS Notice 639 for the Singapore-incorporated banks. Banks that are incorporated outside of Singapore will continue to be subject to the requirements under the existing MAS Notice 639, until the divide between the Domestic Banking Unit and Asian Currency Unit is removed.

 

Comment Due Date: February 12, 2018

Keywords: Asia Pacific, Singapore, Banking, Large Exposures, MAS Notice 639, MAS

Related Insights
News

PRA Finalizes Policy on Minor Amendments to Regulatory Reporting

PRA published the policy statement PS30/18, which contains the final policy following a consultation (CP16/18) on certain amendments to regulatory reporting.

December 05, 2018 WebPage Regulatory News
News

EIOPA Publishes Q&A on Regulations and Guidelines

EIOPA published new sets of questions and answers (Q&A) on guidelines, implementing regulations, and delegated regulations applicable to insurers in Europe.

December 03, 2018 WebPage Regulatory News
News

ESMA Registers A.M. Best (EU) Rating Services as Credit Rating Agency

ESMA, the direct supervisor of credit rating agencies (CRAs) in EU, has registered A.M. Best (EU) Rating Services B.V. as a CRA under the CRA Regulation, with effect from December 03, 2018.

December 03, 2018 WebPage Regulatory News
News

ECB Publishes the Cyber Resilience Oversight Expectations

ECB published the final cyber resilience oversight expectations for financial market infrastructures (FMIs).

December 03, 2018 WebPage Regulatory News
News

ESAs Clarify Securitization Disclosure Requirements for Institutions

ESAs (EBA, EIOPA, and ESMA) published a statement in response to the industry concerns about severe operational challenges in meeting the transitional provisions of the Securitization Regulation disclosure requirements.

November 30, 2018 WebPage Regulatory News
News

OSFI Revises the 2019 Minimum Capital Test Guideline for P&C Insurers

OSFI released a revised Minimum Capital Test (MCT) Guideline for federally regulated property and casualty (P&C) insurers.

November 30, 2018 WebPage Regulatory News
News

BCBS Met to Discuss Challenges for Bank Supervision and Regulation

The Group of Central Bank Governors and Heads of Supervision (GHOS) met, on November 26–27, in Abu Dhabi to discuss a range of policy and supervisory topics. GHOS represents nearly 80 jurisdictions and is the governing body of BCBS.

November 29, 2018 WebPage Regulatory News
News

FED Consults on Rule Establishing Risk-Based Categories for Banks

FED proposed a rule that would establish risk-based categories for determining prudential standards for large U.S. banking organizations, consistent with section 401 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCP Act).

November 29, 2018 WebPage Regulatory News
News

DNB Publishes Banking and Insurance Newsletters for November 2018

DNB issued the banking and insurance newsletters for November 2018.

November 29, 2018 WebPage Regulatory News
News

BoE Publishes Financial Stability Report and Stress Test Results

The Financial Policy Committee (FPC) of BoE published the financial stability report for 2018, including the results of its 2018 stress test for the banking sector in the UK.

November 28, 2018 WebPage Regulatory News
RESULTS 1 - 10 OF 2299