Regulatory Alerts2004-05-28
Added · Updated
MAS Notice 1105 Lending of Singapore Dollar to Non-Resident Financial Institutions
MAS Notice 1105 governs the lending of Singapore Dollars by merchant banks to non-resident financial institutions, replacing the previous notice dated 20 March 2002. Merchant banks may provide S$ credit facilities up to S$5 million per entity for any purpose, while amounts exceeding this threshold require proceeds used outside Singapore to be swapped or converted into foreign currency upon draw-down. Merchant banks must report aggregate outstanding S$ lending monthly to MAS within 10 working days after the reporting month and maintain documentary evidence for audit purposes.
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