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.
Notices
Last Revised Date: 29 June 2021
Notice 811A Credit Files, Grading and Provisioning - COVID-19
Requirements for finance companies on maintaining credit files, grading credit facilities and determining credit loss allowance.
Credit Risk
Issued pursuant to:
Finance Companies Act (Cap. 108) section 30
Applies to:
Finance Company
View Notice
Notice 811A Credit Files, Grading and Provisioning - COVID-19
(189.9 KB)
This notice applies to all finance companies in Singapore. It sets out the credit grading treatment, for credit facilities granted support measures by finance companies in response to the on-going novel coronavirus (“COVID-19”) outbreak, for the period beginning on 1 January 2021 and ending on 31 December 2021 (both dates inclusive).
30 Jun 2021 MAS Notice 811A (Amendment) 2021 (200.5 KB) takes effect.
16 Mar 2021 MAS Notice 811A dated 15 March 2021 takes effect.
MAS Notice 811A - Process Flowcharts (396.3 KB)
Requirements for all finance companies on the maintenance of credit files, grading of credit facilities and determination of credit loss allowance.