Regulatory Alerts2021-06-28
Added · Updated
Notice 1115A Computation of Total Debt Servicing Ratio for Property Loans
MAS Notice 1115A exempts certain property loans and refinancing facilities from paragraphs 5, 9, and 30 of MAS Notice 1115 for merchant banks in Singapore. This exemption applies to credit facilities where loan repayment terms are changed to defer principal or interest for a cumulative period not exceeding 36 months, provided no interest is charged on deferred interest unless requested by the borrower. The exemption covers borrowers who had committed to a Debt Reduction Plan and applies from the notice's effective date of 1 July 2021 until six months after the Ministry of Health revises its COVID-19 risk assessment to "Green".
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