Regulatory Alerts1999-05-07
Added
FSG 15/99: MAS Notice 806 to Finance Companies – Maintenance of Minimum Liquid Assets
The Monetary Authority of Singapore issued Circular No FSG 15/99 to modify MAS Notice 806 by shifting finance companies' minimum liquid asset maintenance from a daily to a fortnightly basis. Finance companies must now maintain liquid assets equal to at least 13% of their liabilities base, with a minimum of 5% held in Singapore Government Securities within dedicated SGS-MLA accounts. The circular establishes specific procedures for account opening, valuation using fortnightly closing prices, and compliance deadlines effective from 3 June 1999.
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