Regulatory Alerts2020-11-06
Added
Notice 645A Computation of Total Debt Servicing Ratio for Property Loans
The Monetary Authority of Singapore issued Notice 645A to establish the mandatory formula and parameters for banks to compute the total debt servicing ratio for property loans. This regulation requires financial institutions to calculate borrowers' monthly total debt obligations and gross monthly income to assess their repayment capacity. It further specifies the limits on monthly repayment instalments for the purchase of HDB flats and executive condominiums.
Topics
Share