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July 25, 2017

MAS proposed amendments to Notice 637 on risk-based capital adequacy requirements for banks incorporated in Singapore. The proposal is to introduce a minimum leverage ratio requirement of 3%. Technical enhancements are also being proposed on the capital treatment of equity and venture capital investments and on the definition of default under the internal ratings-based approach for credit risk. These amendments are proposed to take effect from January 01, 2018.

In January 2016, the Group of Central Bank Governors and Heads of Supervision agreed on a minimum Basel III leverage ratio of 3%, based on a tier 1 definition of capital, to be implemented as a Pillar 1 measure by January 01, 2018. The calculation of the leverage ratio is set out in the Basel Committee’s Basel III leverage ratio framework and disclosure requirements (published in January 2014). Consistent with the Basel standard, MAS proposes to implement a minimum leverage ratio requirement of 3% for Singapore-incorporated banks, to be met with tier 1 capital. This is applicable at both bank-group and bank-solo levels.

Comment Due Date: August 25, 2017

Effective Date: January 01, 2018

Keywords: Asia Pacific, Singapore, Banking, Capital Requirements, Leverage Ratio, CET1, MAS

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