Outlines minimum prudential requirements for asset classification, provisioning and write-off of credit exposures to ensure comparability across financial institutions.
Is intended to complement requirements under accounting standards, offering a prudential backstop for dealing with non-performing exposures in a timely manner.
Applies to all licensed deposit-taking financial institutions, supersedes the guidelines on non-performing asset write-off/credit impairment measurement, income recognition.
Effectiveness
This guideline comes into effect on Dec. 15, 2023.
Aug. 2024 Revised Guidelines
On Aug. 20, 2024, MAU CB issued revised version of the guideline on classification, provisioning and write-off of credit exposures; new version in effect on Sep. 30, 2024.
Revised provisions relating to restructuring of exposures, treatment of repossessed assets, exemptions, available security, transitional arrangements, eligible securities.
