Regulatory Alerts2021-06-11
Added
Notice 1004 Exposures and Credit Facilities to Merchant Bank Related Concerns
The Monetary Authority of Singapore issued Notice 1004 to require all local merchant banks to prepare statements of their exposures and credit facilities to related concerns. This regulation mandates the use of specific forms and explanatory notes to report advances, loans, or credit facilities granted to directors, staff, and related parties. The notice supersedes the previous 1985 directive and establishes a requirement for monthly submission of these credit facility reports.
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