Regulatory Alerts2007-12-14
Added
MAS Notice 628 Securitisation
The Monetary Authority of Singapore issued Notice 628 to regulate securitisation activities by all banks in Singapore, replacing previous regulations effective January 2008. The notice mandates strict separation, disclosure, and reporting requirements for banks acting as sponsors, managers, originators, servicers, or providers of liquidity and credit enhancement. It further establishes capital adequacy rules where non-compliance triggers implicit support presumptions, requiring banks to hold capital as if exposures remained on their balance sheets.
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