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July 10, 2017

MAS published Notice 652 setting out the minimum all-currency NSFR requirements for a domestic systemically important bank (D-SIB). This Notice is issued pursuant to sections 36 and 55 of the Banking Act (Cap. 19) and applies to a bank in Singapore that has been notified by the MAS as a D-SIB.

This notice describes the methodology for calculating NSFR requirements and contains an NSFR reporting template. The notice states that, in case of a D-SIB incorporated and headquartered in Singapore, the requirement is all currency NSFR of at least 100% on an ongoing basis, at a banking group level, after excluding investment in an insurance subsidiary and investment in any non-banking group entity. If a D-SIB is headquartered outside Singapore and has not obtained the MAS approval pursuant to paragraph 4 of MAS Notice 649 to comply with the requirements set out in that Notice on a country-level group basis, the requirement is all currency NSFR of at least 50% on an ongoing basis, at the entity-level. If a D-SIB is headquartered outside Singapore and has obtained the MAS approval pursuant to paragraph 4 of MAS Notice 649 to comply with the requirements set out in that Notice on a country-level group basis, the requirement is all currency NSFR of at least 50% on an ongoing basis, at the country-level group basis.

Effective Date: January 01, 2018

Keywords: Asia Pacific, Singapore, MAS, Banking, NSFR, Liquidity Risk, D-SIB, Reporting

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