Regulatory Alerts2024-05-09
Added
MAS Notice 654 on Recovery and Resolution Planning
The Monetary Authority of Singapore issued Notice 654 to establish recovery and resolution planning requirements for notified banks under the Financial Services and Markets Act 2022. This regulation applies to various categories of banks including full and wholesale banks, both branches and locally incorporated entities. The notice takes effect on 10 May 2024 and simultaneously cancels the previous version of the notice dated 30 January 2019.
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