Regulatory Alerts2020-02-17
Added · Updated
Notice 128A Computation of Total Debt Servicing Ratio for Property Loans
MAS Notice 128A exempts direct insurers from applying paragraphs 3, 6, and 21B of MAS Notice 128 when calculating the Total Debt Servicing Ratio for specific property loans and refinancing facilities granted to borrowers requesting repayment deferment. The exemption applies to loans where the sale and purchase agreement date is prior to 6 April 2020, with deferment periods capped at 12 months for the period ending 8 November 2020, and 36 months for the period from 9 November 2020 until the End Date. Conditions include that no interest is charged on deferred interest unless the borrower requests it be capitalized as principal. The notice takes effect on 18 February 2020 and includes amendments effective from 6 April 2020, 6 May 2020, and 9 November 2020.
More like this from MAS
We email you every new MAS publication the day it's published.