Notice 637 Risk Based Capital Adequacy Requirements for Banks Incorporated in Singapore

Notices

Last Revised Date: 09 October 2025

Notice 637 Risk Based Capital Adequacy Requirements for Banks Incorporated in Singapore

Risk-based capital adequacy requirements for reporting banks incorporated in Singapore.

Capital Adequacy

Issued pursuant to:

Banking Act 1970 sections 10(2)

, 10A(1)

, 10B(1)

and 65(2)

Applies to:

Full Bank (Locally Incorporated)

,

Wholesale Bank (Locally Incorporated)

View Notice

Notice 637 Risk Based Capital Adequacy Requirements for Banks Incorporated in Singapore

(9.67 MB)

This notice applies to all locally-incorporated banks. It sets out:

The capital adequacy ratio and leverage ratio requirements for a locally-incorporated bank and the methodology and process for calculating these ratios.

Requirements for the internal capital adequacy assessment process of a locally-incorporated bank.

Public disclosure requirements for a locally-incorporated bank in relation to its capital adequacy and risk exposures.

01 Jan 2026 MAS Notice 637 (Amendment) 2025 (292.3 KB) dated 9 October 2025 takes effect, except for amendments in Annex 10C, which are effective from 31 December 2025.

01 Jan 2025 MAS Notice 637 (Amendment) 2024 (724.3 KB) dated 25 November 2024 takes effect, except for amendments in (i) paragraph 4.1.18(b) relating to the calculation of the countercyclical buffer, (ii) paragraph 9.1.3(v) relating to the calculation of the components of a Reporting Bank’s business indicator, (iii) Table 11-18A and Table 11-19 of Part XI relating to the public disclosure requirements and (iv) Part XII relating to the reporting schedules, which are effective from 31 December 2024.

01 Jul 2024 MAS Notice 637 dated 20 September 2023 takes effect.

01 Jul 2024 MAS Notice 637 dated 14 September 2012 and last revised on 28 July 2022 (8.27 MB) is cancelled (112.1 KB) .

01 Jan 2023 MAS Notice 637 (Amendment) 2022 (697.1 KB) dated 28 July 2022 takes effect.

01 Jan 2022 MAS Notice 637 (Amendment No. 3) 2021 (1.26 MB) dated 2 December 2021 takes effect, except for the insertion of the definition of “HDB” in Part II and the amendments to paragraphs 7.3.1, 7.3.29A and 7.4.31 in Part VII which are effective from 31 December 2021.

18 Aug 2021 MAS Notice 637 (Amendment No. 2) 2021 (392.8 KB) dated 17 August 2021 takes effect.

01 Jul 2021 MAS Notice 637 (Amendment) 2021 (407.1 KB) dated 14 June 2021 takes effect.

01 Oct 2020 MAS Notice 637 (Amendment No. 2) 2020 (588.3 KB) dated 23 September 2020 takes effect.

31 Mar 2020 MAS Notice 637 (Amendment) 2020 (452 KB) dated 31 March 2020 takes effect.

30 Jun 2019 MAS Notice 637 (Amendment) 2019 (636.4 KB) dated 10 June 2019 takes effect.

16 Nov 2018 MAS Notice 637 (Amendment No. 2) 2018 (2.16 MB) dated 13 November 2018 takes effect, except for amendments to Part II, X and XII relating to the implementation of the revised requirements for IRRBB which are effective from 31 December 2018, and amendments to Parts II and VI relating to requirements on TLAC holdings, Part XI, Part XIA and Schedule 1A of Part XII which are effective from 1 January 2019.

08 Oct 2018 MAS Notice 637 (Amendment) 2018 (467.7 KB) dated 5 October 2018 takes effect.

01 Jan 2018 MAS Notice 637 (Amendment No. 3) 2017 (1.96 MB) dated 28 December 2017 takes effect, except where indicated otherwise.

01 Jan 2018 MAS Notice 637 (Amendment No. 2) 2017 (2.83 MB) dated 29 November 2017 takes effect.

22 Sep 2017 MAS Notice 637 (Amendment) 2017 (147.7 KB) dated 22 September 2017 takes effect.

01 Jan 2017 MAS Notice 637 (Amendment) 2016 dated 17 October 2016 takes effect.

01 Jul 2015 MAS Notice 637 (Amendment No. 2) 2014 dated 29 December 2014 takes effect, except paragraphs 6(t), 6(u), 6(v) and 6(w) on the amendments in respect of the definition of commitment and CCFs for loans on a progressive disbursal schedule which are effective from 31 December 2015, and paragraphs 3(q), 6(x), 6(y), 6(z) and 6(dd) on the amendments in respect of the removal of structured deposits as eligible financial collateral for credit risk mitigation purposes which are effective from 1 January 2017.

01 Jan 2015 MAS Notice 637 (Amendment) 2014 dated 14 October 2014 takes effect, except paragraphs 10(a) and 10(c) on the amendments in respect of Schedule 1C, which are effective from 31 December 2015.

31 Dec 2013 MAS Notice 637 (Amendment) 2013 dated 31 December 2013 takes effect.

01 Jan 2013 MAS Notice 637 (Amendment No. 2) 2012 dated 28 December 2012 takes effect, except paragraph 3 on the amendments in respect of Schedule 1A which is effective from 31 March 2013.

01 Jan 2013 MAS Notice 637 (Amendment) 2012 dated 29 November 2012 takes effect, except where indicated otherwise.

14 Sep 2012 MAS Notice 637 dated 14 September 2012 takes effect. 14 Sep 2012 MAS Notice 637 dated 14 December 2007 is cancelled.

31 Dec 2025 MAS Notice 637 (9.66 MB) effective 31 Dec 2025.

01 Jan 2025 MAS Notice 637 (9.67 MB) effective 01 Jan 2025.

31 Dec 2024 MAS Notice 637 (9.6 MB) effective 31 Dec 2024.

01 Jul 2024 MAS Notice 637 (9.31 MB) effective 01 Jul 2024.

Before 01 Jul 2024 MAS Notice 637 (8.27 MB) and Reporting Schedules (3.28 MB) in force immediately before 01 Jul 2024.

Before 01 Jan 2008 MAS Notice 637 (299.1 KB) in force immediately before 01 Jan 2008.

MAS Notice 637 Annexes 12A to 12F:

Reporting Schedules currently in force Reporting Schedules (ZIP, 0.99 MB) effective 25 Nov 2024.

Before 25 Nov 2024 Reporting Schedules (ZIP, 998.8 KB) effective 01 Jul 2024.

Final Basel III Reforms - Implementation timeline and submission of reporting schedules via MAS' Data Collection Gateway:

8 June 2023 PPD 08/2023: Implementation Timeline for the Final Basel III Reforms in Singapore

Requirements for banks in Singapore on minimum liquid assets (MLA) and liquidity coverage ratio (LCR).

Rules to measure and limit a locally-incorporated bank's exposures to a single counterparty group.

Requirements for banks to submit external auditors' reports and additional information, and annual financial statements.

Guidelines for all financial institutions covering MAS' general approach to Islamic banking regulations.

Risk based capital adequacy requirements for financial holding companies that have a subsidiary that is a bank incorporated in Singapore and are predominantly banking designated financial holding companies (predominantly banking DFHCs).

This circular informs locally-incorporated banks of the publication of the revised MAS Notice 637 on risk based capital adequacy requirements for banks incorporated in Singapore.

This circular provides the finalised implementation timeline for the final Basel III reforms in Singapore.

This circular informs locally-incorporated banks of the reporting schedules to be submitted via MAS' Data Collection Gateway under the implementation of the final Basel III reforms in Singapore, and the implementation timeline of the final Basel III reforms in Singapore.

Requirements for banks holding private equity and venture capital investments.

Clarifies MAS’ position on the capital treatment for credit-linked notes.