SIN MAS revised MAS Notice 637Risk based capital adequacy requirements for banks incorporated in Singapore, to provide clarifications and make technical revisions.
Follows SIN MAS Sep. 2023 responded to feedback and revised notice 637, #185315.
Amendments
Clarify the recognition of industrial properties as collateral under the standardized approach to credit risk and foundation internal ratings-based approach.
For instances where the bank holds a junior charge and where all senior charges ranking above the junior charge are held by the bank or Jurong Town Corporation.
Provide clarification on interpretation issues consistent with the frequently asked questions published by Basel Committee on Banking Supervision in Jul. 2024, #218494.
Effectiveness
Amendments take effect Jan. 1, 2025, except certain paragraphs on Dec. 31, 2024.
Regulators
SIN MAS
Entity Types
Bank
Reference
Nt 11/25/2024; Citation: *MAS* Notice 637;
Functions
Actuarial and Valuation; Compliance; Financial; Operations; Reporting; Risk; Treasury
