Regulatory Alerts2024-05-16
Added
Notice 648 Issuance of Covered Bonds by Banks Incorporated in Singapore
The Monetary Authority of Singapore issued Notice 648 to establish regulatory requirements for locally incorporated banks issuing covered bonds. The notice mandates compliance with specific rules regarding cover pool assets, encumbrance limits, risk management frameworks, and notification obligations. These standards apply to both Full Banks and Wholesale Banks incorporated in Singapore under the Banking Act 1970.
Notices
Last Revised Date: 16 May 2024
Notice 648 Issuance of Covered Bonds by Banks Incorporated in Singapore
Requirements that banks incorporated in Singapore must comply with when issuing covered bonds.
Covered Bonds and Asset Securitisation
Issued pursuant to:
Banking Act 1970 section 55
Applies to:
Full Bank (Locally Incorporated)
,
Wholesale Bank (Locally Incorporated)
View Notice
Notice 648 Issuance of Covered Bonds by Banks Incorporated in Singapore
(144.4 KB)
This notice applies to all banks incorporated in Singapore. It sets out the requirements that banks have to comply with when issuing covered bonds. These include:
Cover pool assets and encumbrance limit.
Risk management requirements.
Notification and other requirements.
16 May 2024
MAS Notice 648 (Amendment) 2024 (150.4 KB) takes effect.
1 Jul 2022
MAS Notice 648 (Amendment) 2022 (524.2 KB) takes effect.
28 Sep 2021
MAS Notice 648 (Amendment) 2021 (61.8 KB) takes effect.
16 Oct 2020
MAS Notice 648 (Amendment) 2020 (438.4 KB) takes effect.
04 Jun 2015
MAS Notice 648 (Amendment) 2015 (89.7 KB) takes effect.
31 Dec 2013
MAS Notice 648 dated 31 Dec 2013 (169.2 KB) takes effect.
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).