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    MAS Amends Notice on Capital Adequacy Requirements of Banks

    September 23, 2020

    MAS published amendments to Notice 637 on the risk-based capital adequacy requirements for reporting banks incorporated in Singapore. The published document reflects amendments to MAS Notice 637 to define regulatory loss allowance, which is recognized as tier 2 Capital. The changes also revise the capital treatment for public-sector entities and implement other technical revisions to the credit and market risk frameworks. The amendments to Notice 637 shall take effect on October 01, 2020.

    The amendments specifically relate to Part II on definitions, Part III on scope of application, Part IV on capital adequacy ratios and leverage ratio, Part VI on definition of capital, Part VII on credit risk, Part VIII on market risk, Part IX on operational risk, Part X on supervisory review process, Part XI on public disclosure requirements, and Part XII on reporting schedules (schedule 2-7). Overall, the 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: October 01, 2020

    Keywords: Asia Pacific, Singapore, Banking, MAS Notice 637, Credit Risk, Reporting, Basel, Regulatory Capital, Disclosures, Market Risk, MAS

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