Regulatory Alerts2021-06-29
Added · Updated
MAS Notice 1013 Disclosure in Financial Statements
Merchant Banks in Singapore must disclose the gross aggregate amount of credit facilities classified as sub-standard, doubtful, or loss under MAS Notice 1005 in their financial statements. Foreign-incorporated Merchant Banks must also disclose if their home jurisdiction's regulatory authority requires lower repayment priority for branch depositors compared to home country depositors in the event of receivership or winding up. These requirements take effect on 1 July 2021.
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