Featured Product

    MAS Consults on Implementation of Final Basel III Reforms in Singapore

    May 07, 2019

    MAS proposed revisions to the risk-based capital requirements and leverage ratio requirements for banks incorporated in Singapore. These revisions implement the final Basel III reforms published by BCBS, covering the minimum capital requirements for market risk (published in January 2019) and the revised standards for credit risk, credit valuation adjustment, operational risk, output floor, and the leverage ratio (published in December 2017). Comment period on the consultation ends on July 08, 2019 and MAS proposed to implement the revisions from January 01, 2022.

    In the consultation document, MAS sets out its policy proposals for implementation of specific aspects of the Basel III reforms:

    • MAS intends to adopt the revised credit risk framework, market risk framework, and operational risk framework with proposals on the exercise of national discretions.
    • MAS proposes to adopt the phase-in arrangement of BCBS for the output floor calibration. 
    • MAS proposes to require derivative exposures to be measured in the leverage ratio exposure measure, using the modified standardized approach for measuring counterparty credit risk exposures (SA-CCR), from January 01, 2022. This will harmonize the measurement of derivative exposures between the leverage ratio and the risk-based framework, which will improve the effectiveness of the leverage ratio as a backstop to the risk-based capital requirements
    • MAS also proposes to allow banks the option to adopt the modified SA-CCR for calculation of their leverage ratio earlier than January 01, 2022, conditional on their simultaneous or prior adoption of the SA-CCR under the risk-based framework. 

     

    Comment Due Date: July 08, 2019

    Effective Date: January 01, 2022 (Proposed)

    Keywords: Asia Pacific, Singapore, Banking, Basel III, Credit Risk, Market Risk, Operational Risk, Output Floor, Leverage Ratio, Capital Requirements, MAS

    Featured Experts
    Related Articles
    News

    EBA Clarifies Use of COVID-19-Impacted Data for IRB Credit Risk Models

    The European Banking Authority (EBA) published four draft principles to support supervisory efforts in assessing the representativeness of COVID-19-impacted data for banks using the internal ratings based (IRB) credit risk models.

    June 21, 2022 WebPage Regulatory News
    News

    EP Reaches Agreement on Corporate Sustainability Reporting Directive

    The European Council and the European Parliament (EP) reached a provisional political agreement on the Corporate Sustainability Reporting Directive (CSRD).

    June 21, 2022 WebPage Regulatory News
    News

    PRA Consults on Model Risk Management Principles for Banks

    The Prudential Regulation Authority (PRA) launched a consultation (CP6/22) that sets out proposal for a new Supervisory Statement on expectations for management of model risk by banks.

    June 21, 2022 WebPage Regulatory News
    News

    EC Regulation Amends Standards for Calculating Credit Risk Adjustments

    The European Commission (EC) published the Delegated Regulation 2022/954, which amends regulatory technical standards on specification of the calculation of specific and general credit risk adjustments.

    June 21, 2022 WebPage Regulatory News
    News

    BIS Hub Updates Work Program for 2022, Announces New Projects

    The Bank for International Settlements (BIS) Innovation Hub updated its work program, announcing a set of projects across various centers.

    June 17, 2022 WebPage Regulatory News
    News

    EIOPA Issues Cyber Underwriting Proposal, Statement on Open Insurance

    The European Insurance and Occupational Pensions Authority (EIOPA) published two consultation papers—one on the supervisory statement on exclusions related to systemic events and the other on the supervisory statement on the management of non-affirmative cyber exposures.

    June 17, 2022 WebPage Regulatory News
    News

    US Senate Members Seek Details on SEC Proposed Climate Disclosure Rule

    Certain members of the U.S. Senate Committee on Banking, Housing, and Urban Affairs issued a letter to the Securities and Exchange Commission (SEC)

    June 16, 2022 WebPage Regulatory News
    News

    EIOPA Consults on Review of Securitization Framework in Solvency II

    The European Insurance and Occupational Pensions Authority (EIOPA) published a consultation paper on the advice on the review of the securitization prudential framework in Solvency II.

    June 16, 2022 WebPage Regulatory News
    News

    UK Authorities Issue Regulatory and Reporting Updates for Banks

    The Prudential Regulation Authority (PRA) issued a statement on PRA buffer adjustment while the Bank of England (BoE) published a notice on the statistical reporting requirements for banks.

    June 15, 2022 WebPage Regulatory News
    News

    BCBS Issues Climate Risk Principles while HKMA Expresses Its Support

    The Basel Committee on Banking Supervision (BCBS) issued principles for the effective management and supervision of climate-related financial risks.

    June 15, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8280