Regulatory Alerts2021-06-28
Added
Notice 109 Lending of Singapore Dollar to Non-Resident Financial Institutions
The Monetary Authority of Singapore issues Notice 109 to govern the lending of Singapore dollars by insurers, CMS licensees, finance companies, merchant banks, and banks to non-resident financial institutions. The regulation establishes specific limits and rules for these cross-border lending activities and mandates the submission of monthly returns regarding outstanding credit facilities. Recent amendments effective from July 2021 incorporate consequential changes arising from the Banking (Amendment) Act 2020 to update these reporting and operational requirements.
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