Featured Product

    MAS Amends Notice 637 on Capital Requirements for Banks

    March 31, 2020

    MAS amended Notice 637 on the risk-based capital adequacy requirements for reporting banks incorporated in Singapore. The notice is issued pursuant to section 10(2), section 10A(1), section 10B(1), and section 65(2) of the Banking Act and applies to all locally incorporated full banks and wholesale banks. The amendments to the notice relate to Part VI on definition of capital, Part XI on public disclosure requirements, and Part XII on schedules for capital adequacy reporting. The amendments shall take effect from March 31, 2020.

    The changes have been made to MAS Notice 637 to allow full recognition of balances maintained in regulatory loss allowance reserve accounts, pursuant to paragraph 6.3 of MAS Notice 612, as tier 2 capital. Notice 637 notice sets out: 

    • Capital adequacy ratio and leverage ratio requirements for a locally incorporated banks and the methodology and process for calculating these ratios
    • Requirements for the internal capital adequacy assessment process of a locally incorporated bank
    • Public disclosure requirements for a locally incorporated bank in relation to its capital adequacy and risk exposures
    • Data submission and disclosure requirements on the indicators for assessing the systemic importance of global banks


    Effective Date: March 31, 2020

    Keywords: Asia Pacific, Singapore, Banking, MAS Notice 637, Capital Adequacy, Credit Risk, Basel III, Reporting, MAS

    Featured Experts
    Related Articles
    News

    NGFS Seeks Public Feedback on Climate Risk Assessment Scenarios

    The Network for Greening the Financial System (NGFS) launched its first user feedback survey on climate scenarios, with the feedback period ending on February 27, 2023.

    February 06, 2023 WebPage Regulatory News
    News

    EBA Launches Stress Tests for Banks, Issues Other Updates

    The European Banking Authority (EBA) launched the 2023 European Union (EU)-wide stress test, published annual reports on minimum requirement for own funds and eligible liabilities (MREL) and high earners with data as of December 2021.

    January 31, 2023 WebPage Regulatory News
    News

    EBA Proposes Standards for IRRBB Reporting Under Basel Framework

    The European Banking Authority (EBA) proposed implementing technical standards on the interest rate risk in the banking book (IRRBB) reporting requirements, with the comment period ending on May 02, 2023.

    January 31, 2023 WebPage Regulatory News
    News

    FED Issues Further Details on Pilot Climate Scenario Analysis Exercise

    The U.S. Federal Reserve Board (FED) set out details of the pilot climate scenario analysis exercise to be conducted among the six largest U.S. bank holding companies.

    January 17, 2023 WebPage Regulatory News
    News

    US Agencies Issue Several Regulatory and Reporting Updates

    The Board of Governors of the Federal Reserve System (FED) adopted the final rule on Adjustable Interest Rate (LIBOR) Act.

    January 04, 2023 WebPage Regulatory News
    News

    ECB Issues Multiple Reports and Regulatory Updates for Banks

    The European Central Bank (ECB) published an updated list of supervised entities, a report on the supervision of less significant institutions (LSIs), a statement on macro-prudential policy.

    January 01, 2023 WebPage Regulatory News
    News

    HKMA Keeps List of D-SIBs Unchanged, Makes Other Announcements

    The Hong Kong Monetary Authority (HKMA) published a circular on the prudential treatment of crypto-asset exposures, an update on the status of transition to new interest rate benchmarks.

    December 30, 2022 WebPage Regulatory News
    News

    EU Issues FAQs on Taxonomy Regulation, Rules Under CRD, FICOD and SFDR

    The European Commission (EC) adopted the standards addressing supervisory reporting of risk concentrations and intra-group transactions, benchmarking of internal approaches, and authorization of credit institutions.

    December 29, 2022 WebPage Regulatory News
    News

    CBIRC Revises Measures on Corporate Governance Supervision

    The China Banking and Insurance Regulatory Commission (CBIRC) issued rules to manage the risk of off-balance sheet business of commercial banks and rules on corporate governance of financial institutions.

    December 29, 2022 WebPage Regulatory News
    News

    HKMA Publications Address Sustainability Issues in Financial Sector

    The Hong Kong Monetary Authority (HKMA) made announcements to address sustainability issues in the financial sector.

    December 23, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8702