Regulatory Alerts2021-06-11
Added
Notice 640 Minimum Asset Maintenance Requirements
The Monetary Authority of Singapore issued Notice 640 to establish the minimum asset maintenance requirements for all foreign banks operating in Singapore. This regulation mandates that these institutions maintain eligible assets within the country at all times to satisfy specific asset maintenance ratios. It further outlines the methodologies for computing eligible assets and the obligations for submitting periodic reports to the regulator.
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