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.
Notices
Last Revised Date: 11 June 2021
Notice 1004 Exposures and Credit Facilities to Merchant Bank Related Concerns
Requirements on merchant banks for preparing statements of exposures and credit facilities to related concerns.
Credit Risk
Issued pursuant to:
Banking Act (Cap. 19) section 27
and section 55ZD
Applies to:
Merchant Bank (Locally Incorporated)
,
Merchant Bank (Branch)
View Notice
Notice 1004 Exposures and Credit Facilities to Merchant Bank Related Concerns
(169.9 KB)
This notice requires all merchant banks in Singapore to prepare statements of their exposures and credit facilities to related concerns using the form and explanatory notes attached.
01 Jul 2021 MAS Notice 1004 dated 1 November 1985 (12 KB) is cancelled
.
Appendix I: Statement of Advances, Loans or Credit Facilities to Merchant Bank Directors, Staff and Related Concerns (12.3 KB)
Appendix II: Explanatory Notes for Completion of Statement of Advances, Loans or Credit Facilities to Merchant Bank Directors, Staff and Related Concerns (52 KB)
Requirements for merchant banks to submit a monthly statement on the credit facilities granted to their related parties.