Regulatory Alerts2005-01-06
Added · Updated
Guidelines on IRB Adoption
MAS requires Singapore-incorporated banks to complete a Basel II implementation survey and return it by 31 January 2005. The survey must be signed off by the heads of risk management and finance functions, as well as heads of significant business units, and endorsed by the Board of Directors. MAS expects banks to adopt risk management practices commensurate with their complexity and encourages movement toward the Internal Ratings-based Approach. Banks applying for permission to use the IRB approach must demonstrate adequate governance and risk management capabilities.
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