Regulatory Alerts2021-06-30
Added
MAS Notice 1005A Credit Files, Grading and Provisioning - COVID-19
The Monetary Authority of Singapore issued Notice 1005A to prescribe credit grading treatment and provisioning requirements for merchant banks regarding credit facilities supported during the COVID-19 outbreak. This regulation applies to all merchant banks in Singapore and covers the period from 1 January 2021 to 31 December 2021. It mandates specific standards for maintaining credit files, grading credit facilities, and determining credit loss allowances in response to pandemic-related support measures.
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