Regulatory Alerts2021-06-29
Added
MAS Notice 811A Credit Files, Grading and Provisioning - COVID-19
The Monetary Authority of Singapore issued Notice 811A to establish credit grading treatments for finance companies providing support measures in response to the COVID-19 outbreak. The regulation mandates specific requirements for maintaining credit files, grading credit facilities, and determining credit loss allowances for facilities granted between 1 January 2021 and 31 December 2021. This notice applies to all finance companies in Singapore and was amended by MAS Notice 811A (Amendment) 2021 effective 30 June 2021.
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