Regulatory Alerts2021-06-29
Added
MAS Notice 1005 Credit Files, Grading and Provisioning
The Monetary Authority of Singapore issued Notice 1005 to establish regulatory requirements for all merchant banks regarding credit risk management. The notice mandates the maintenance of comprehensive credit files, the implementation of objective credit facility grading systems, and the recognition of loss allowances for expected credit losses. These standards aim to ensure adequate provisioning for bad and doubtful debts while supporting consistent credit assessment practices across the sector.
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