Regulatory Alerts2022-06-29
Added · Updated
MAS Notice FHC-N637 on Risk Based Capital Adequacy Requirements
This Notice establishes risk-based capital adequacy and leverage ratio requirements for predominantly banking designated financial holding companies (FHCs) with Singapore-incorporated bank subsidiaries, applying at the consolidated group level. It incorporates provisions from MAS Notice 637 with specific modifications, including definitions for FHC groups, rules for non-consolidating insurance subsidiaries, and deemed approvals for FHC group entities that are banks. The document mandates a look-through approach for covered bonds issued via special purpose entities and adjusts disclosure frequencies for certain FHCs not designated as domestic systemically important banks. This Notice takes effect on 1 July 2022.
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