Regulatory Alerts2021-06-22
Added
Notice 650 Collection of Statistical Returns for Renminbi Business Activities
The Monetary Authority of Singapore issued Notice 650 to require all banks to prepare and submit monthly statistical returns regarding Renminbi business activities. This mandate applied to all banking entities, including those with no such activities, and specified reporting templates, completion notes, and submission timeframes. The notice was cancelled with effect from 1 July 2021, superseding previous versions issued in 2015 and 2019.
Notices
Last Revised Date: 22 June 2021
Notice 650 Collection of Statistical Returns for Renminbi Business Activities [Cancelled with effect from 1 Jul 2021]
Requirements, templates and instructions for all banks when submitting statistical returns for Renminbi business activities.
Renminbi Business
Statistical Returns
Issued pursuant to:
Banking Act (Cap. 19) section 55
Applies to:
Full Bank (Locally Incorporated)
,
Full Bank (Branch)
,
Wholesale Bank (Branch)
,
Wholesale Bank (Locally Incorporated)
View Notice
Notice 650 Collection of Statistical Returns for Renminbi Business Activities [Cancelled with effect from 1 Jul 2021]
(177.8 KB)
This notice applies to all banks, including those with no business activities transacted in Renminbi. It requires banks to prepare monthly statistical returns to MAS according to the given template and instructions.
22 Jun 2021
MAS Notice 650 (Cancellation) (177.8 KB) takes effect from 1 July 2021. 29 Jan 2019 MAS Notice 650 (Amendment) 2019 (411.1 KB) takes effect from the monthly returns for January 2019. 11 May 2015 MAS Notice 650 dated 8 May 2015 takes effect.
Requirements for banks on submitting returns to MAS, including reporting forms, completion notes and submission timeframe.
Requirements for banks conducting foreign exchange conversion in China via the Renminbi Clearing Bank.