Regulatory Alerts2020-11-06
Added
Notice 128A Computation of Total Debt Servicing Ratio for Property Loans
The Monetary Authority of Singapore issued Notice 128A to mandate direct insurers in Singapore to compute the total debt servicing ratio for property loans. The notice establishes the specific formula, parameters, and limits for calculating borrowers' monthly total debt obligations, gross monthly income, and repayment instalments for HDB flats and executive condominiums. This regulatory framework ensures consistent risk assessment standards across the insurance sector for housing-related credit.
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