Regulatory Alerts2021-06-11
Added · Updated
Notice 640 Minimum Asset Maintenance Requirements
Foreign full banks must maintain eligible assets in Singapore sufficient to achieve an asset maintenance ratio of not less than 0.35 or $5 million, whichever is higher. Foreign wholesale banks are required to maintain eligible assets sufficient for a ratio of not less than 0.15 or $5 million, whichever is higher. Eligible assets are calculated using specific valuation formulas and percentages listed in Annex 1, while the asset maintenance ratio is derived from these assets divided by aggregate Singapore dollar deposit liabilities with non-bank customers. Banks must submit signed reports to the Authority and may exclude certain pledged or set-aside deposit liabilities from the denominator under specified conditions.
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