November 13, 2018

MAS published the final, revised Notice 637 on the risk-based capital adequacy requirements in Singapore. This version of the notice finalizes regulatory capital treatment of banks' holdings of total loss-absorbing capacity (TLAC) liabilities, amendments to the capital frameworks for securitization exposures and the interest rate risk in the banking book (IRRBB), and proposals to widen the scope of eligible collateral. MAS also published the feedback to the comments received on consultations to the proposals for these amendments. The amendments shall take effect from November 16, 2018, except where indicated otherwise.

The amendments have been made to the MAS Notice 637 to:

  • Implement the revised BCBS standard for IRRBB
  • Implement the BCBS’ total TLAC holdings standard
  • Widen the scope of eligible collateral relating to commodities and equity for credit risk mitigation purposes
  • Revise the risk-weight for unrated exposures to public-sector entities under the standardized approach for credit risk (SA(CR))
  • Make technical amendments to the public disclosure requirements
  • Make other miscellaneous technical amendments

Effective Date: November 16, 2018

Keywords: Asia Pacific, Singapore, Banking, Notice 637, Capital Adequacy, Eligible Collateral, Securitization Framework, IRRBB, TLAC, Basel III, Credit Risk, Responses to Consultation, MAS

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