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

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