Regulatory Alerts2021-06-11
Added · Updated
Notice 1004 Exposures and Credit Facilities to Merchant Bank Related Concerns
Merchant Banks in Singapore must submit monthly statements of exposures and credit facilities to related concerns to the Monetary Authority of Singapore no later than 15 days after the end of each month. The reports must detail borrower names, relationships, credit facility types and limits, amounts utilized, and collateral values, with all amounts converted to Singapore dollars. A full list of borrower partners or directors must be provided when a credit facility is first reported or if there is a change in personnel. This Notice takes effect on 1 July 2021.
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