Regulatory Alerts2024-07-01
Added · Updated
MAS Notice 643A Exposures and Credit Facilities to Related Concerns
This Notice requires every bank to prepare and submit quarterly statements detailing exposures and credit facilities to related concerns, with submission deadlines set at 14 days or 7 days after the quarter end depending on the computation method used. Banks incorporated in Singapore must aggregate exposures at the consolidated level with all subsidiaries and entities treated as part of the bank group. The document specifies rules for computing exposures, including the application of bilateral netting for off-balance sheet derivatives, offsetting against qualifying collateral, and substituting exposures with credit protection providers subject to specific credit rating and mismatch haircuts.
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