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.
Notices
Last Revised Date: 29 June 2021
Notice 1013 Disclosure in Financial Statements
Covers disclosure requirements in relation to a merchant bank's financial statements.
Financial Statements
Issued pursuant to:
Banking Act (Cap. 19) section 55(1)
Applies to:
Merchant Bank (Locally Incorporated)
,
Merchant Bank (Branch)
View Notice
Notice 1013 Disclosure in Financial Statements
(564.6 KB)
This notice applies to all merchant banks in Singapore. It sets out certain disclosure requirements by MAS on merchant banks' financial statements, in addition to those specified in the Companies Act (Cap.50) and Singapore Financial Reporting Standards.
01 Jul 2021 MAS Notice 1013 dated 29 June 2021 takes effect.
01 Jul 2021 MAS Notice 1013 dated 1 March 2006 (last revised on 21 December 2020) (110.7 KB) is cancelled
.
22 Dec 2020 MAS Notice 1013 (Amendment) 2020 (125.1 KB) takes effect.
01 Mar 2006 MAS Notice 1013 dated 01 March 2006 takes effect.
01 Mar 2006 MAS Notice 1013 dated 3 March 1999 is cancelled.
Covers minimum information requirements in relation to a merchant bank's financial statements.
Requirements for merchant banks on the annual appointment of auditors.
Establishes the Monetary Authority of Singapore (MAS) and gives it the authority to regulate the financial services sector in Singapore.
More like this from MAS
We email you every new MAS publication the day it's published.