MAS Amends Notices on Minimum Liquid Asset Requirements for Banks
MAS published amendments to Notices 1015, 613, and 649 related to the minimum liquid assets (MLA) requirements. MAS also published Form 2 associated with the Notice 649. The amendments shall take effect on January 28, 2020. MAS Notice 1015 (Amendment) 2020, MAS Notice 613 (Amendment) 2020, and MAS Notice 649 (Amendment) 2020 reflect the consequential amendments made to Notices 1015, 613, and 649, respectively, as a result of the commencement of the Payment Services Act 2019 (Act 2 of 2019) on January 28, 2020.
Notice 1015 sets out the minimum liquid assets requirements and the liquidity coverage ratio, or LCR, requirements, is issued pursuant to section 28(4) of the MAS Act (Cap. 186), and applies to all merchant banks approved under section 28 of the MAS Act. Notice 613 sets out the minimum liquid assets requirements, is issued pursuant to section 38 of the Banking Act (Cap. 19), and applies to all banks in Singapore. Finally, Notice 649 sets out the minimum liquid assets requirements and liquidity coverage ratio requirements, is issued pursuant to sections 38 and 65 of the Banking Act (Cap. 19), and applies to all banks in Singapore.
Effective Date: January 28, 2020
Keywords: Asia Pacific, Singapore, Banking, LCR, Merchant Banks, Reporting, Liquidity Risk, MAS Notice 649, MAS Notice 613, MAS Notice 1015, MAS
Featured Experts
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
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.
Related Articles
OSFI Issues Phase2 Consultation on Climate Scenario Exercise for Banks
The Office of the Superintendent of Financial Institutions (OSFI) recently announced a consultation on the second phase of the Standardized Climate Scenario Exercise (SCSE) for banks and other financial institutions it regulates in Canada.
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.