Regulatory Alerts2024-05-09
Added · Updated
Guidelines to MAS Notice 654 on Recovery and Resolution Planning
The Monetary Authority of Singapore requires banks notified under MAS Notice 654 to comply with recovery and resolution planning obligations. Local banks must prepare consolidated recovery plans and maintain detailed resolution information, while foreign banks must ensure their plans cover Singapore operations and maintain data for their Singapore sub-groups. The guidelines specify requirements for recovery triggers, options, communication plans, and specific data points regarding organizational structure, capital, and critical functions.
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