Regulatory Alerts2021-06-28
Added
MAS Notice 1105 Lending of Singapore Dollar to Non-Resident Financial Institutions
The Monetary Authority of Singapore issued Notice 1105 to govern merchant banks' extension of Singapore dollar credit facilities and arrangement of equity or bond issues for non-resident financial institutions. The notice mandates that these banks submit monthly statistical returns detailing their aggregate outstanding Singapore dollar lending to such entities. This regulation, effective from 1 July 2021, supersedes the previous version of the notice to ensure updated compliance and reporting standards.
Notices
Last Revised Date: 28 June 2021
Notice 1105 Lending of Singapore Dollar to Non-Resident Financial Institutions
Governs the lending of SGD by merchant banks to non-resident financial institutions, including requirements for submitting monthly returns.
SGD FX and Interest Rates
Statistical Returns
Issued pursuant to:
Banking Act (Cap. 19) Section 55 (1)
Applies to:
Merchant Bank (Locally Incorporated)
,
Merchant Bank (Branch)
View Notice
Notice 1105 Lending of Singapore Dollar to Non-Resident Financial Institutions
(138.6 KB)
This notice applies to all merchant banks in Singapore. It sets out the requirements for merchant banks when:
Extending Singapore dollar credit facilities to non-resident financial institutions.
Arranging Singapore dollar equity or bond issues for non-resident financial institutions.
It also sets out requirements for merchant banks to submit monthly returns to MAS on their aggregate outstanding Singapore dollar lending to non-resident financial institutions.
1 Jul 2021 MAS Notice 1105 dated 28 June 2021 (138.6 KB) takes effect from 1 July 2021.
1 Jul 2021 MAS Notice 1105 dated 28 May 2004 (last revised on 5 October 2018) is cancelled.
08 Oct 2018 MAS Notice 1105 (Amendment) 2018 (242 KB) takes effect.
28 May 2004 MAS Notice 1105 dated 28 May 2004 (12.3 KB) takes effect.
28 May 2004 MAS Notice 1105 dated 20 March 2002 is cancelled.
Appendix I: Format for Outstanding S$ Credit Facility Monthly Report (92.6 KB)
Governs the lending of S$ by insurers (except captive insurers) to non-resident financial institutions, including requirements for submitting monthly returns.
Guidelines on the permitted activities and restrictions for merchant banks.
Consultation on proposed (i) new Notice and Guidelines on Risk Fact Sheet for Contracts for Differences; (ii) amendments to Notice on Risk-Based Capital Adequacy Requirements; (iii) amendments to Notices relating to the lending of Singapore dollar to non-resident financial institutions; and (iv) new guidelines on statutory definition of common investors pertaining to insider trading.
Consultation number:
P018 - 2017
Start date:
06 October 2017
Closing date:
03 November 2017
MAS response date:
01 October 2018
Provides clarifications to some frequently asked questions on MAS Notice 757 and equivalent notices.
Outlines MAS’ policy review of MAS Notice 1105 in May 2004.
Outlines MAS' review of MAS Notice 757 in December 2000.