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.
Notices
Last Revised Date: 11 June 2021
Notice 640 Minimum Asset Maintenance Requirements
Covers requirements for the minimum amount of eligible assets that foreign banks must maintain in Singapore.
Asset Maintenance
Issued pursuant to:
Banking Act (Cap. 19) section 40(1)
Applies to:
Full Bank (Branch)
,
Wholesale Bank (Branch)
View Notice
Notice 640 Minimum Asset Maintenance Requirements
(204.9 KB)
This notice applies to all foreign banks. It sets out requirements on:
Maintaining eligible assets in Singapore to meet the asset maintenance requirement at all times.
Computation of eligible assets and asset maintenance ratio.
Submission of reports.
1 Jul 2021
MAS Notice 640 (Amendment) 2021 (278 KB) dated 11 Jun 2021 takes effect.
13 Apr 2011 MAS Notice 640 (Amendment) 2011 takes effect.
07 May 2009 MAS Notice 640 (Amendment) 2009 takes effect. 11 Jun 2007 MAS Notice 640 dated 06 June 2007 takes effect.
13 April 2011 MAS Notice 640
(60.2 KB)
Annex 1: Eligible Assets
(26.6 KB)
Annex 2: Asset Maintenance Requirement Quarterly Return
(25.5 KB)
Guidelines for all financial institutions covering MAS' general approach to Islamic banking regulations.