Regulatory Alerts2021-06-29
Added
MAS Notice 612A Credit Files, Grading and Provisioning - COVID-19
The Monetary Authority of Singapore issued Notice 612A to establish credit grading treatment for facilities granted support measures in response to the COVID-19 outbreak. This directive applies to all banks in Singapore and mandates specific requirements for maintaining credit files, grading credit facilities, and determining credit loss allowances. The regulatory framework covers the period from 1 January 2021 to 31 December 2021 and was updated by the MAS Notice 612A (Amendment) 2021 effective 30 June 2021.
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