Regulatory Alerts1998-04-14
Added
MAS Notice 806 to Finance Companies – Minimum Cash Balances and Minimum Liquid Assets
The Monetary Authority of Singapore issued this circular to modify MAS Notice 806, effective 17 December 1998, by reducing the minimum cash balance requirement for finance companies from 6% to 3% of their liabilities base. Concurrently, the minimum liquid assets requirement is increased from 10% to 13% of the liabilities base, with specific caps imposed on Singapore Government Securities and bills of exchange. These amendments restrict SGS held under repurchase agreements to a maximum of 5%, bills of exchange to 4%, and their aggregate to 8% of the liabilities base.
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