Regulatory Alerts2024-05-09
Added
Guidelines to MAS Notice 654 on Recovery and Resolution Planning
The Monetary Authority of Singapore issued these guidelines to provide detailed requirements for notified banks regarding recovery and resolution planning under MAS Notice 654. The document mandates that banks establish robust recovery plans, resolution plans, management information systems, and operational continuity measures to ensure financial stability. These guidelines supersede the previous version dated 30 January 2019 and take effect on 10 May 2024.
Guidelines
Published Date: 09 May 2024
Guidelines to MAS Notice 654 on Recovery and Resolution Planning
Guidelines for notified banks on recovery and resolution planning requirements under MAS Notice 654.
MAS' Approach to Resolution
Applies to:
Full Bank (Branch)
,
Full Bank (Locally Incorporated)
,
Wholesale Bank (Branch)
,
Wholesale Bank (Locally Incorporated)
View Document
Guidelines to MAS Notice 654 on Recovery and Resolution Planning
(404.1 KB)
These guidelines provide guidance to notified banks on recovery and resolution planning requirements in Notice 654 on Recovery Resolution Planning. They should be read in conjunction with Notice 654. The guidelines cover:
Recovery plan
Resolution plan
Management information systems
Operational continuity
9 May 2024
Guidelines to MAS Notice 654 on Recovery and Resolution Planning (404.1 KB) takes effect 10 May 2024.
9 May 2024
Guidelines to MAS Notice 654 on Recovery and Resolution Planning dated 30 January 2019 (378.9 KB) is cancelled (95.5 KB) .
Recovery and resolution planning requirements for notified banks.