Notice 759 Collection of Statistical Returns for Credit Cards

1 MAS Notice 759 29 June 2020 Last revised on 11 June 2021* NOTICE TO CARD ISSUERS BANKING ACT, CAP 19 COLLECTION OF STATISTICAL RETURNS FOR CREDIT CARDS Introduction 1 This Notice is issued pursuant to section 57EB of the Banking Act (Cap 19) [“the Act”] and applies to all card issuers in Singapore. Definition 2 In this Notice— “unsecured credit facility” means any fully unsecured or partially secured non￾card credit facility. [MAS Notice 759 (Amendment) 2021] 3 The expressions used in this Notice shall, except where defined in this Notice or where the context otherwise requires, have the same meanings as in the Act and the Banking (Credit Card and Charge Card) Regulations 2013.

2 Returns under section 57EB of the Act 4 Subject to paragraph 5, every card issuer shall prepare returns in respect of each quarter of the year in the form set out in Appendix I and in accordance with the accompanying Notes for Completion for compiling the returns therein. 5 A card issuer whose total amount of credit card receivables owed to it by its cardholders is less than $5 million may elect to submit its returns in the form set out in Appendix II, in accordance with the Notes for Completion for compiling the returns therein. A card issuer which has filed a return under paragraph 4 may not subsequently file returns under this paragraph. 6 A card issuer shall furnish to the Authority the returns required under paragraph 4 or 5, as the case may be no later than 30 days following the end of each quarter. Effective date 7 This Notice shall take effect immediately. MAS Notice 759 issued on 29 November 2013 is cancelled with immediate effect.

• Endnotes on History of Amendments (1) MAS Notice 759 (Amendment) 2021 with effect from 1 July 2021.

3 APPENDIX I: STATISTICS COLLECTION TEMPLATE THE MONETARY AUTHORITY OF SINGAPORE Quarterly Statement of Credit Card/Charge Card Facilities Reporting Organisation : _________________________________ MM/YYYY : ______________ 1 This return is to be completed in accordance with the relevant Notes for Completion. 2 Number items are to be reported in full and value items in thousands of Singapore dollars (unless otherwise stated), rounded to two decimal places. 3 This return is applicable to any credit card, charge card or unsecured credit facility linked to a debit card which is reflected in the books of a card issuer in relation to its operations in Singapore. Foreign currency credit facilities are to be converted to Singapore dollars using month-end exchange rates. [MAS Notice 759 (Amendment) 2021] 4 Credit cards and charge cards referred to in sections 57G(a) and (c) of the Act shall not be reported in this Appendix I. General Definitions: Charge card Means any article, whether in physical or electronic form, of a kind commonly known as charge card intended for use in purchasing goods or services and (a) linked to a non-revolving credit facility; and (b) where the full amount of any credit utilised has to be settled by a specified date; whether or not the card is valid for immediate use. Credit card Means any article, whether in physical or electronic form, of a kind commonly known as credit card intended for use in purchasing goods or services and (a) linked to a revolving credit facility (other than a deposit account with overdraft facilities); and (b) where the full amount of any credit utilised may be settled in full by a specified date or in part, with the unpaid balance subject to interest charges; whether or not the card is valid for immediate use.

4 Debit card Means an article, whether in physical or electronic form, that enables the holder to access funds in a deposit account with a financial institution and that may be used for the purchasing of goods and services (e.g. ATM cards). Transfer balances Means any existing balances that have been transferred from other financial institutions by a cardholder. Part I: General Data Notes for Completion of Part I Reporting entity Means any credit card or charge card issuer. For the avoidance of doubt, credit cards and charge cards referred to in section 57G(b) of the Act shall be reported under this Part. Credit card A Reporting entity shall include statistics on co￾branded cards that it has issued under this column. The Reporting entity shall aggregate any unsecured credit facility linked to a debit card, where the individual is personally liable, with credit card facilities under the ‘credit card’ column. Value Means the aggregate of the amount of transactions attributable to the use of credit cards or charge cards for the 3 months in the reporting quarter. S’porean & PR Only personal credit cards and charge cards (i.e. cards not applied for the use of any business purpose) issued to Singaporeans and Permanent Residents (“PRs”) shall be reported under this column. Others Credit cards and charge cards issued to foreigners business cards, corporate cards, and corporate purchasing cards shall be reported under this column.

5 Table I - General Data I GENERAL DATA I S’porean & PR Others Total Credit card Charge card Credit card Charge card Value (S$ ‘000) 1 Billings of Reporting entity’s cardholders in Singapore 2 Billings of Reporting entity’s cardholders outside Singapore 3 Billings of foreign cardholders in Singapore 4 Net profit/loss from credit card and charge card operations in Singapore for the reporting quarter, before tax 4a Gross interest earnings before tax 4b Membership fees 4c Merchant fees and net interchange income 4d Exchange gains/losses 4e Other income 4f Fraud losses net of recovery 4g Bad debts written off 4h Other expenses Notes for Completion of Table I: General Data I Item Description Notes for Completion 1 Billings of the Reporting entity’s cardholders in Singapore The total billings of a Reporting entity’s cardholders for the entire quarter shall be reported, and not the total billings as at the end of the quarter. Any instalment amount which is billed to a customer’s credit card account shall be included and reported. Interest and other charges shall be excluded. 3 Billings of foreign cardholders in Singapore Refers to spending of foreign cardholders (i.e. holders of cards issued by card-issuing

6 Item Description Notes for Completion companies outside Singapore) in Singapore, settled by charge/credit cards. 4 Net profit/loss from credit card and charge card operations in Singapore for the reporting quarter, before tax The values for credit cards and charge cards are to be aggregated. This is net of expenses incurred, but before deduction of tax. The sum of rows 4a to 4h must be equivalent to item 4. 4a Gross interest earnings before tax This shall be reported before any interest expense (e.g. funding cost) is deducted. 4e Other income This refers to other income earned from the credit card and charge card operations in Singapore that are not reported under rows 4a – 4d. 4h Other expenses This refers to other expenses incurred by the credit card and charge card operations in Singapore that are not reported under rows 4f – 4g. Table 2: General Data II Credit card Charge card GENERAL DATA II S'porean & PR Others S'porean & PR Others Number 1 Number of principal cards 2 Number of principal cardholders 3 Number of supplementary cardholders Notes for Completion of Table 2: General Data II Item Description Notes for Completion 1 Number of principal cards The number of cards, including debit cards linked to an unsecured credit facility, that a Reporting entity has issued to its principal cardholders. Supplementary cards shall not be included.

7 Item Description Notes for Completion All cards which are available for further use by cardholders, notwithstanding that there may not be outstanding balances thereon or that they have not been drawn on for some time, shall be reported. Cards which are not available for further use shall still be reported if there are outstanding balances thereon (unless they are written off). For the avoidance of doubt, cards which are not available for further use and which have no outstanding balances shall not be reported. If two cards are issued to an individual, a count of two shall be included in this field. 2 Number of principal cardholders For the purpose of this return, a Reporting entity shall consider an individual as a single cardholder, irrespective of the number of cards or unsecured facilities linked to debit cards he holds. Where an individual hold both a credit card and a charge card as main cardholder, he shall be reported as a single statistic in the ‘credit card’ column and shall not be reported in the ‘charge card’ column. An individual who holds an unsecured credit facility linked to a debit card shall be reported in the ‘credit card’ column and not in the ‘charge card’ column. Cardholders who hold cards that are available for further use, notwithstanding that there may not be outstanding balances thereon or that it has not been drawn on for some time, shall be reported. Cardholders who hold cards which are not available for further use shall still be reported if there are outstanding balances thereon (unless they are written off). For the avoidance of doubt, cardholders who hold only cards which are not available for further use and which have no outstanding balances shall not be reported.

8 Item Description Notes for Completion Where an individual holds both a principal card and a supplementary card (under another principal cardholder), he shall be reported in both ‘Number of principal cardholders’ and ‘Number of supplementary cardholders’. 3 Number of supplementary cardholders For the purpose of this return, a Reporting entity shall consider an individual as a single supplementary cardholder, irrespective of the number of supplementary cards or unsecured facilities linked to debit cards he holds. Where an individual holds both a supplementary credit card and a supplementary charge card, he shall be reported as a single statistic in the ‘credit card’ column and not in the ‘charge card’ column. Part II: Unsecured Credit Facilities Linked to Debit Cards Notes for Completion of Part II Reporting entity Means any credit card or charge card issuer. A Reporting entity shall report an unsecured credit facilities linked to a debit card, where the individual is personally liable, under this part. Number Means the number of individuals as at the end of the quarter, and not the aggregate of the number of individuals in the 3 months in the quarter. For the purpose of this Part, a Reporting entity shall consider an individual as a single statistic, irrespective of the number of unsecured credit facilities he holds. Value Means the value as at the end of the reporting quarter, and not the aggregate of the 3 months’ value, unless specifically stated otherwise. S’porean & PR Only Singaporeans and PRs who are granted unsecured credit facilities linked to debit cards shall be reported.

9 Table 3: Unsecured Credit Facilities Linked to Debit Cards UNSECURED CREDIT FACILITIES LINKED TO DEBIT CARDS S'porean & PR Total S'porean & PR Total Number Value (S$ ‘000) 1 Number of individuals with unsecured credit facilities linked to debit cards 2 Total credit facilities extended under unsecured credit facilities linked to debit cards 3 Total outstanding balance of unsecured credit facilities linked to debit cards 3a ‘Free credit’ balance 3b Interest-bearing balances by age 3b(i) Less than 30 days 3b(ii) 30 – 59 days 3b(iii) 60 – 89 days 3b(iv) 90 – 119 days 3b(v) 120+ days 3c Interest and other charges 4 Unsecured credit facilities linked to debit cards not repaid at due date 4a Less than 30 days 4b 30-59 days past due 4c 60-89 days past due 4d 90-179 days past due 4e 180+ days past due 4f Of which: Interest and other charges 5 Delinquent credit facilities 6 Bad debts written off during the quarter 7 Action initiated by Reporting entity against cardholders 7a Restructuring action 7b Collection action 7c Legal action 7d Others Delinquent Credit Facility Grading Policy:

10 Notes for Completion of Table 3: Unsecured Credit Facilities Linked to Debit Cards Item Description Notes for Completion 2 Total credit facilities extended under unsecured credit facilities linked to debit cards Means the sum of: • total amount of credit extended under unsecured credit facilities linked to debit cards that are available for further use as at the end of the quarter and includes any undrawn facilities; and • total outstanding balance of unsecured credit facilities linked to debit cards which are not available for further use but which have outstanding balances thereon (unless they are written off). For the avoidance of doubt, unsecured credit facilities linked to debit cards which are not available for further use and which have no outstanding balances shall not be reported. 3 Total outstanding balance of unsecured credit facilities linked to debit cards Means the aggregate amount outstanding and payable to the Reporting entity due to unsecured credit facilities linked to debit cards, including free credit balance and interest-bearing balance, but does not include any credit facility that has been written off or any unsecured credit facilities not repaid at due date. 3a ‘Free credit’ balance Refers to balances that are not subject to interest charges. For instalments, the total outstanding instalment amount including the first billing shall be classified under ‘free credit balance’ if the total outstanding instalment amount, including the first billing, is not subject to interest charges. The total outstanding instalment amount shall be run down each month when the individual pays his monthly instalments. Transfer balances shall be included under ‘free credit balance’ if the transfer balance is not subject to interest charges.

11 Item Description Notes for Completion 3b Interest-bearing balances by age Means balances that are subject to interest charges, but do not include the balances accumulated by: (i) individuals who did not make the minimum payment; and (ii) individuals with over-limit amounts which are past due date. For instalments, the total outstanding instalment amount shall be classified under ‘interest-bearing balances’ if any part of the total outstanding instalment amount is subject to interest charges. The total outstanding instalment amount shall be run down each month when the individual pays his monthly instalments. Transfer balances shall be included under ‘interest-bearing balance by age’ if any part of the transfer balance is subject to interest charges. Interest and other charges (e.g. late payment charges) shall be excluded from the ‘Value’ figures for item 3b, 3b(i) – (v). Where an individual owes both ‘free credit balance’ and ‘interest-bearing balances’, he shall be reported under ‘Interest-bearing balances by age’. 3b(i)- (v) Interest-bearing balances by age (i) Less than 30 days (ii) 30 – 59 days (iii) 60 – 89 days (iv) 90 – 119 days (v) 120+ days Age refers to the consecutive number of days up to the end of the reporting quarter during which any part of the individual’s outstanding balance attracts interest. 1 Where an individual has multiple unsecured credit facilities linked to debit cards with different interest-bearing periods, the individual and the balances on all his 1 For example, an individual first charges $1,000 to his unsecured credit facility linked to a debit card on 5 February. The amount charged attracts interest from 6 February. By end March, the ‘age’ of his interest bearing balance would be 54 days (no. of days between 6 Feb (inclusive) and 31 March (inclusive)).

12 Item Description Notes for Completion unsecured credit facilities linked to debit cards shall be reported under the ‘Number’ and ‘Value’ column respectively, in the single row which reflects the age of the unsecured credit facility with the longest interest-bearing period. 3c Interest and other charges Means any bank charges, fees, interest charges and late payment charges. 4 Unsecured credit facilities not repaid at due date This shall include individuals who fail to make the minimum payment by the payment due date or who have over-limit amounts which are past due. Once the required payment is not paid at due date, the entire amount outstanding, and not just the required amount that was not made, shall be included in the value figures. This shall not include any overdue credit facility where a Reporting entity has negotiated for a change in repayment terms with the individual and payments are still being made in accordance with the repayment terms (“restructured credit facility”). However, where the individual defaults again in subsequent quarters, such credit facility shall be re-included in the returns for that quarter as if the credit facility were not a restructured credit facility.2 Any credit facility which has been written off shall not be reported. Interest and other charges shall be included in the value figures. 4a - 4e Unsecured credit facilities not repaid at due date (a) Less than 30 days (b) 30-59 days past due (c) 60-89 days past due (d) 90-179 days past due The number of days shall be computed based on the consecutive number of days up to the end of the reporting quarter that an unsecured credit facility linked to any debit card is past due. 2 For example, where a balance that was 30 days past due had been restructured, and the restructured balance was subsequently defaulted on again 90 days later, such a balance will be considered to be in arrears for 90+30 =120 days, and therefore placed in the “90-179 days past due” row.

13 Item Description Notes for Completion (e) 180+ days past due Where an individual has multiple credit facilities linked to debit cards with varying days past due, the individual and the balances on all his unsecured credit facilities linked to debit cards shall be reported under the ‘Number’ and ‘Value’ column respectively, in the single row which reflects the past due period of the unsecured credit facility with the most number of days past due. Interest and other charges shall be included in the value figures. 4f Of which: Interest and other charges Means any bank charges, fees, interest charges and late payment charges included in the amounts reported under item 4. 5 Delinquent credit facilities Means any credit facility which is classified as delinquent by a Reporting entity. The internal definition of delinquent credit facilities is to be reported in the ‘Delinquent Credit Facility Grading Policy’ section. The number of individuals with delinquent credit facilities shall be reported, and not the number of delinquent credit facilities. Interest and other charges shall be included in the value figures. 6 Bad debts written off Means all bad debts written off in accordance with the write off policy for bad debts of a Reporting entity for the reporting quarter. Interest and other charges shall be included in the value figures. 7a￾7d Action initiated by Reporting entity against cardholder Means any action taken against an individual with overdue credit facilities as at the end of the quarter. Any credit facility which has been written off shall not be reported. When a Reporting entity has taken multiple actions against such an individual, the relevant credit facility shall be recorded under

14 Item Description Notes for Completion the latest stage of action. 3 The Reporting entity shall categorise the type of action taken against the individual as follows: a) ‘Restructuring action’ means any action taken by the Reporting entity to negotiate for a change in repayment terms for any overdue credit facility with an individual, and such credit facility is still being repaid in accordance with the new repayment terms, and includes individuals reported under items 1a and 2a of Table 7 who also have overdue credit facilities; b) ‘Collection action’ means any formal action taken by the Reporting entity against an individual of an overdue credit facility, for example, the sending of demand letters, but does not include any restructured credit facility; c) ‘Legal action’ means the assignment of any overdue credit facility to external lawyers or external debt collectors; d) ‘Others’ mean any other action which is not a collection action, legal action or restructuring action. Interest and other charges shall be included in the value figures. Delinquent credit facility grading policy A Reporting entity shall submit to the Authority its policy for grading delinquent credit facilities. 3 For instance, a Reporting entity that has taken both collection action and legal action against a defaulter shall record the details of that credit facility under the ‘legal action’ row only.

15 Part III: Credit Cards Notes for Completion of Part III Reporting entity Means any credit card issuer. Credit cards and charge cards referred to in section 57G(b) of the Act shall be reported under Table 5B. Individuals who hold cards issued under Regulation 14(5)(b) or (6) shall be reported in Table 5A. Where an individual holds both credit cards issued under Regulation 14(5)(b) or (6) and credit cards not issued under Regulation 14(5)(b) or (6), he shall be reported under Table 5A and not under Table 4. Credit card holders who are not reported in Tables 5A or 5B shall be reported in Table 4. Credit card A Reporting entity shall include statistics on co-branded cards that it has issued. S’porean & PR Only Singaporeans and PRs who are issued personal credit cards, and the amounts attributable to their personal credit cards shall be reported under S’porean & PR – ‘Number’ and S’porean & PR - ‘Value’ respectively. Cardholders who hold credit cards which are available for further use, notwithstanding that there may not be outstanding balances thereon or that they have not been drawn on for some time, shall be reported. Cardholders who hold cards which are not available for further use shall still be reported if there are outstanding balances thereon (unless they are written off). For the avoidance of doubt, cardholders who hold only cards which are not available for further use and which have no outstanding balances shall not be reported. Others Foreigners who are issued any credit card (including any personal card, business card, corporate card, or corporate purchasing card) and Singaporeans and PRs who are issued business cards, corporate cards, and corporate purchasing cards, and the amounts attributable to such cards, shall be reported under Others – ‘Number’ and Others – ‘Value’ respectively. Number Means the number of cardholders as at the end of the quarter, and not the aggregate of the number of cardholders in the 3 months in the quarter.

16 For the purpose of this Part, a Reporting entity shall consider an individual as a single cardholder, irrespective of the number of credit cards he holds. Only individuals holding principal cards (i.e. not supplementary cards only) shall be included. Value Means the value as at the end of the quarter, and not the aggregate of the 3 months’ value, unless otherwise stated. Amounts attributable to unsecured credit facilities drawn down through debit cards, which are reported in Part II shall not be reported under this Part. Table 4: Credit Cards CREDIT CARDS S'porean & PR Others S'porean & PR Others Number Value (S$ ‘000) 1 Number of individuals with credit cards 2 Total credit facilities extended to cardholders 3 Total outstanding balance of credit cardholders 3a ‘Free credit’ balance 3b Rollover balance by age 3b(i) Less than 30 days 3b(ii) 30-59 days 3b(iii) 60-89 days 3b(iv) 90-119 days 3b(v) 120+ days 3c Of which: Interest and other charges 4 Average total rollover balance for the quarter 5 Total instalment charges not due 6 Total rollover balance of credit card held by Singaporeans and PRs 7 Normalised rollover balance of credit cards held by Singaporeans and PRs 7a At median 7b At 90th percentile 7c At 95th percentile

17 CREDIT CARDS S'porean & PR Others S'porean & PR Others Number Value (S$ ‘000) 8 Credit cardholders who do not meet minimum payment requirement 8a Less than 30 days 8b 30-59 days past due 8c 60-89 days past due 8d 90-179 days past due 8e 180+ days past due 8f Interest and other charges 9 Delinquent credit facilities 10 Bad debts written off during the quarter 11 Action initiated by Reporting entity against cardholders 11a Restructuring action 11b Collection action 11c Legal action 11d Others Delinquent Credit Facility Grading Policy: Notes for Completion of Table 4: Credit Cards Item Description Notes for Completion 2 Total credit facilities extended to cardholders Means the sum of: • total amount of credit extended on credit cards that are available for further use as at the end of the quarter and includes any undrawn facilities; and • total outstanding balance of credit cards which are not available for further use but which have outstanding balances thereon (unless they are written off). For the avoidance of doubt, credit cards which are not available for further use and which have no outstanding balances shall not be reported.

18 Item Description Notes for Completion Unsecured credit facilities linked to debit cards shall be reported in Table 3, and not Table 4. 3 Total outstanding balance of credit cardholders Means the aggregate amount outstanding and payable to a Reporting entity due to credit cards, including ‘free credit’ balance and rollover balance, but does not include any credit card facility that has been written off. 3a ‘Free credit’ balance Refers to balances that are not subject to interest charges. For instalments, the total outstanding instalment amount, including the first billing, shall be classified under ‘free credit balance’ if the total outstanding instalment amount, including the first billing, is not subject to interest charges. The total outstanding instalment amount shall be run down each month when the cardholder pays his monthly instalments.4 Transfer balances shall be included under ‘free credit balance’ if the transfer balance is not subject to interest charges. 3b Rollover balance by age Means balances that are subject to interest charges and includes any required minimum payment not settled by due date, interest and other charges. For instalments, the total outstanding instalment amount shall be classified under ‘rollover balance by age’ if any part of the total outstanding instalment amount is subject to interest charges. 4 Illustration: A cardholder purchases an item worth $12,000 under a 1-year interest-free instalment plan offered by Company A whereby no interest will be charged if the cardholder pays each month’s instalment by the due date. In the first month January, he is billed $1,000. The due date is 5 February. At end-January, the $1,000 is reflected under “billings of Reporting entity’s cardholders in Singapore” and an outstanding $12,000 (of which $1,000 is billed but not yet due/settled) at end-January under “‘Free Credit’ balance’. In the second month, February, he pays the first instalment of $1,000 on 5 February and is again billed $1,000, which is reflected under "billings of Reporting entity’s cardholders in Singapore" and an outstanding $11,000 is reflected under ’Free Credit’ balance. In the third month, March, he pays the monthly instalment of $1,000 by the due date and is again billed $1,000. For the purpose of the March reporting to MAS, a Reporting entity is to record the $1,000 billings in March together with the $2,000 billings in January & February, i.e. a total of $3,000 under “billings of Reporting entity’s cardholders in Singapore” (in Table 1). An outstanding amount of $10,000 ($12,000 - $1,000 - $1,000) is to be reflected under ‘free credit balance’ in the March reporting to MAS.

19 Item Description Notes for Completion The total outstanding instalment amount shall be run down each month when the cardholder pays his monthly instalments.5 When an instalment becomes past due, the total outstanding instalment amount which attracts interest shall be reported under ‘rollover balance by age’ and ‘credit cardholders who do not meet minimum payment requirement’. Transfer balances shall be included under ‘rollover balance by age’ if any part of the transfer balance is subject to interest charges. When instalments on transfer balances become past due, the amount shall be reported under ‘rollover balance by age’ and ‘cardholders who do not meet minimum payment requirement’. Where an individual owes both ‘free credit’ balance and rollover balance, he shall be reported under ‘rollover balance by age’. 3b(i)- (v) Rollover balance by age (i) Less than 30 days (ii) 30-59 days (iii) 60-89 days (iv) 90-119 days (v) 120+ days Age refers to the consecutive number of days up to the end of the reporting quarter during which any part of the individual’s total outstanding balance attracts interest. 6 Where an individual holds multiple cards with different rollover periods, the individual and the balances on all his cards shall be reported under the ‘Number’ and ‘Value’ column respectively, in 5 Illustration: A cardholder purchases an item worth $12,000 in January under a 1-year interest-free instalment plan offered by Company A whereby no interest will be charged on the instalment and outstanding amounts if the cardholder pays each month’s instalment by the due date. The cardholder has no other amounts outstanding on his card. The due date is the 5th of each month. The cardholder duly pays the first four monthly instalment of $1,000 in February, March, April and May. However, in the sixth month, June, he missed paying the fifth instalment of $1,000 by the due date and is billed $1,000 for the sixth instalment. As he has missed paying the fifth instalment by the due date, the outstanding amount of $8,000 will be charged interest. When reporting for end-June, the amount to be reflected under “billings of Reporting entity’s cardholders in Singapore” is $3,000 (billings for April, May & June) and the outstanding amount of $8,000 ($12,000 – 4 x $1,000) is to be reflected under ‘rollover balance by age’, ‘rollover balances by age (Less 30 days)’ and ‘credit cardholders who do not meet minimum payment requirement’. 6 For example, a cardholder first charges $1,000 to his credit card in January. The payment due date is 5 February. As at end January, $1,000 shall be reflected under ’free credit balance’. In February, he pays $100 by 5 February and charges another $500 on 10 February. The due date is 5 March. As he did not pay the January’s bill in full, he is charged interest. As at end February, $1,400 ($1,000 - $100 + $500) shall be reflected under ‘Rollover balance by age’ and ‘Rollover balance by age – Less than 30 days’ (based on the number of days between 5 Feb (exclusive) and 28 Feb (inclusive). In March, he pays $100 by 5 March and charges another $500 on 10 March. The due date is 5 April. As at end March, $1,800 ($1,400 - $100 + $500) shall be reflected under ‘Rollover balance by age’ and ‘Rollover balance by age – 30 – 59 days’. The cardholder has rolled over since 5 February. By end March, he would have rolled over 54 days (no. of days between 5 Feb (exclusive) and 31 March (inclusive)).

20 Item Description Notes for Completion the single row which reflects the rollover age of the card with the longest rollover period7 . 3c Of which: Interest and other charges Means any bank charges, fees, interest charges and late payment charges included under item 3b. 4 Average total rollover balance for the quarter Means the sum of rollover balances incurred by cardholders for each of the three months of the quarter, divided by three. Interest and other charges shall be included in the value figures. 5 Total instalment charges not due Means any balances on a purchase made under an instalment plan that have not been charged to a cardholder. Interest and other charges (if charged) shall be included in the value figures. 6 Total rollover balance of credit cards held by Singaporeans and PRs Means any balances held by Singaporeans and PRs which are subject to interest charges. Unlike the ‘rollover balance by age’ row, interest and other charges are to be excluded when reporting for this category. Any credit facility which has been written off need not be reported. 7a￾7c Normalised rollover balance of credit cards held by Singaporeans and PRs A Reporting entity shall normalise the “total rollover balance of credit cards held by Singaporeans and PRs” relative to the cardholder’s monthly income (i.e. dividing the rollover balance by the cardholder’s monthly income), based on the latest available income information that the Reporting entity has. Such normalised rollover balances of individuals shall be ranked from the least (0th percentile) to the most (100th percentile). The 90th and 95th percentile is the amount of normalised rollover balance that the 90th and 95th percentile owes 7 For example, a cardholder having a rollover for 95 days on one card and a rollover for 35 days on the other shall be recorded as a single statistic in the “90-119 days” column.

21 Item Description Notes for Completion respectively. Cardholders without any rollover balance shall be excluded. 8 Credit cardholders who do not meet minimum payment requirement Once minimum payment is not made, the entire amount outstanding on that card, and not just the minimum payment amount that is not made, shall be included in the value figures. This shall not include any overdue credit facility where a Reporting entity has negotiated for a change in repayment terms with the cardholder and payments are still being made in accordance with the repayment terms (“restructured credit facility”). However, where the cardholder defaults again in subsequent quarters, such credit facility shall be re-included in the returns for that quarter, as if the credit facility were not a restructured credit facility.8 Any credit facility which has been written off need not be reported. Interest and other charges (e.g. late payment charges) shall be reported separately in “Interest and other charges” (item 8f). 8a￾8e Credit cardholders who do not meet minimum payment requirement (a) Less than 30 days (b) 30-59 days past due (c) 60-89 days past due (d) 90-179 days past due (e) 180+ days past due The number of days shall be computed based on the consecutive number of days up to the end of the reporting quarter that an individual did not pay the minimum payments due.9 Where an individual has multiple credit cards with varying days past due, the individual and the balances on all his cards shall be reported under the ‘Number’ and ‘Value’ columns respectively, in the single row which reflects the past due age of the card with the most number of days past due. Interest and other charges (e.g. late payment charges) shall be reported separately in “Interest and other charges” (item 8f). 8 For instance, balances that had been 30 days past due, but had been restructured, and subsequently defaulted again 90 days later will be considered to be in arrears for 90+30 =120 days, and therefore placed in the “90 -179 days” row. 9 For example, a cardholder is required to pay at least the minimum payment on the 5th of every month, starting from January. He failed to pay in January, February and March. For the quarter ending March, he shall be considered 60 -89 days past due (as he has been past due since 6 January). In April, he pays a portion (but not the full amount) of the minimum payment on 5 April. By end April, he shall be considered 90 – 179 days past due (as he has not made full payment of the minimum payments since 6 January).

22 Item Description Notes for Completion 9 Delinquent credit facilities Means any credit facility which is classified as delinquent by a Reporting entity. The internal definition of delinquent credit facility is to be reported in the ‘Delinquent Credit Facility Grading Policy’ section. When reporting the number of delinquent credit facilities, the number of cardholders is required, and not the number of cards. Interest and other charges shall be included in the value figures. 10 Bad debts written off during the quarter Means all bad debts written off in accordance with the write off policy for bad debts of a Reporting entity for the reporting quarter. Interest and other charges shall be included in the value figures. 11a￾11d Action initiated by Reporting entity against cardholders Means any action taken against a cardholder who has not made the minimum payment as at the end of the quarter. Any credit facility which has been written off shall not be reported. Where a Reporting entity has taken multiple actions against such a cardholder, the relevant credit facility shall be recorded under the latest stage of action. The Reporting entity shall categorise the type of action taken against the cardholder as follows: a) ‘Restructuring action’ means any action taken by the Reporting entity to negotiate for a change in repayment terms for any overdue credit facility with a cardholder, and such credit facility is still being repaid in accordance with the new repayment terms, and includes individuals reported under items 1a or 2a of Table 7 who also have not made the minimum payment; b) ‘Collection action’ means any formal action taken by the Reporting entity against a cardholder of an overdue credit facility, for example, the sending of demand letters, but does not include any restructured credit facility;

23 Item Description Notes for Completion c) ‘Legal action’ means the assignment of any overdue credit facility to external lawyers or external debt collectors; d) ‘Others’ means any other action which is not a collection action, legal action or restructuring action. Interest and other charges (if charged) shall be included in the value figures. Delinquent credit facility grading policy A Reporting entity shall submit to the Authority its policy for grading delinquent credit facilities. Table 5A: Exempted Credit Cards & Charge Cards issued under Regulation 14(5)(b) or (6) EXEMPTED CREDIT CARDS & CHARGE CARDS ISSUED UNDER REGULATION 14(5)(b) OR (6) S’porean & PR Others Number Value (S$’000) 1 Total number of individuals with cards issued under Regulation 14(5)(b) or (6) 2 Total outstanding balance of individuals with cards issued under Regulation 14(5)(b) or (6) 2a ‘Free credit’ balance 2b Rollover balance 2c Of which: Interest and other charges 3 Cardholders who do not meet minimum payment requirement 3a Less than 30 days past due 3b 30-89 days past due 3c 90+ days past due 3d Of which: Interest and other charges 4 Bad debts written off

24 Table 5B: Micro credit cards & charge cards EXEMPTED MICRO CREDIT CARDS & CHARGE CARDS Issued to individuals below 21 years of age Issued to individuals at least 21 years of age Number Value (S$’000) 5 Total number of individuals with micro credit cards and charge cards 6 Total outstanding balance of micro credit cards and charge cards 6a ‘Free credit’ balance 6b Rollover balance 6c Of which: Interest and other charges 7 Micro credit cardholders and charge cardholders who do not meet minimum payment requirement 7a Less than 30 days past due 7b 30-89 days past due 7c 90+ days past due 7d Of which: Interest and other charges 8 Bad debts written off Notes of Completion of Tables 5A & 5B Item Description Notes for Completion 1 Total number of individuals with cards issued under Regulation 14(5)(b) or (6) Means total number of Singaporeans and PRs who hold any credit card or charge card issued on the basis of the cardholder earning at least S$120,000 a year, or owning total net personal assets exceeding S$2 million, where a Reporting entity is exempted from the maximum or overall credit limit requirement in respect of such individuals. Individuals who hold cards issued under Regulation 14(5)(b) or (6) are to be reported in Table 5A. Where an individual holds both credit/charge cards issued under Regulation 14(5)(b) or (6) and credit/charge cards not issued under Regulation 14(5)(b) or (6), he shall be reported under Table 5A and not under Table 4.

25 Item Description Notes for Completion 2 Total outstanding balance of individuals with cards issued under Regulation 14(5)(b) or (6) Means the aggregate amount outstanding on credit cards and charge cards and payable to a Reporting entity by individuals who are issued credit cards or charge cards under Regulation 14(5)(b) or (6) but does not include any credit card facility which has been written off. 2a ‘Free credit’ balance Refers to balances that are not subject to interest charges. For instalments, the total outstanding instalment amount including the first billing shall be classified under ‘free credit balance’ if the total outstanding instalment amount, including the first billing, is not subject to interest charges. The total outstanding instalment amount shall be run down each month when the cardholder pays his monthly instalments. Transfer balances shall be included under ‘free credit balance’ if the transfer balance is not subject to interest charges. 2b Rollover balance Means balances that are subject to interest and includes any required minimum payment not settled by due date, interest and other charges. For instalments, the total outstanding instalment amount shall be classified under ‘rollover balance’ if any part of the total outstanding instalment amount is subject to interest charges. The total outstanding instalment amount shall be run down each month when the cardholder pays his monthly instalments. When an instalment becomes past due, the total outstanding instalment amount shall be reported under ‘rollover balance’ and ‘cardholders who do not meet minimum payment requirement’. Transfer balances shall be included under ‘rollover balance’ if any part of the transfer balance is subject to interest charges.

26 Item Description Notes for Completion When instalments on transfer balances become past due, the amount shall be reported under ‘rollover balance’ and ‘cardholders who do not meet minimum payment requirement’. Where an individual owes both free credit balance and rollover balance, the individual and the balances on all his cards shall be reported under ‘rollover balance’ – Number and ‘rollover balance’ – ‘Value’ respectively. 2c Of which: Interest and other charges Means any bank charges, fees, interest charges and late payment charges included under item 2b. 5 Total number of individuals with micro credit cards & charge cards Means individuals who hold solely credit cards or charge cards referred to in section 57G(b) of the Act (and no other cards). 6 Total outstanding balance of micro credit cards and charge cards Means the aggregate amount outstanding on credit cards and charge cards payable to the Reporting entity by individuals who hold solely micro credit cards and charge cards (and no other cards) but does not include any micro credit card or charge card facility which has been written off. 6a ‘Free credit’ balance Refers to balances that are not subject to interest charges. For instalments, the total outstanding instalment amount including the first billing shall be classified under ‘free credit balance’ if the total outstanding instalment amount, including the first billing, is not subject to interest charges. The total outstanding instalment amount shall be run down each month when the cardholder pays his monthly instalments. Transfer balances shall be included under ‘free credit balance’ if the transfer balance is not subject to interest charges. 6b Rollover balance Means balances that are subject to interest and includes any required minimum payment not settled by due date, interest and other charges.

27 Item Description Notes for Completion For instalments, the total outstanding instalment amount shall be classified under ‘rollover balance’ if any part of the total outstanding instalment amount is subject to interest charges. The total outstanding instalment amount shall be run down each month when the cardholder pays his monthly instalments. When an instalment becomes past due, the total outstanding instalment amount shall be reported under ‘rollover balance’ and ‘micro credit cardholders or charge cardholders who do not meet minimum payment requirement’. Transfer balances shall be included under ‘rollover balance’ if any part of the transfer balance is subject to interest charges. When instalments on transfer balances become past due, the amount shall be reported under ‘rollover balance’ and ‘micro credit cardholders and charge cardholders who do not meet minimum payment requirement’. Where an individual owes both free credit balance and rollover balance, he shall be reported under ‘rollover balance’. 6c Of which: Interest and other charges Means any bank charges, fees, interest charges and late payment charges included under item 7b. Delinquent credit facility grading policy A Reporting entity shall submit to the Authority its policy for grading delinquent credit facilities.

28 Part IV: Charge Cards Notes for Completion of Part IV Reporting entity Means any charge card issuer. Charge cards referred to in section 57G(b) of the Act shall be reported under Table 5B and not under this Part. Individuals who hold cards issued under Regulation 14(5)(b) or (6) shall be reported in Table 5A. Where an individual holds both charge cards issued under Regulation 14(5)(b) or (6) and charge cards not issued under Regulation 14(5)(b) or (6), he shall be reported under Table 5A and not under Table 6. Charge card holders who are not reported in Tables 5A or 5B shall be reported in Table 6. S’porean & PR Only Singaporeans and PRs who are issued personal charge cards, and the amounts attributable to their personal charge cards shall be reported under S’porean & PR – ‘Number’ and S’porean & PR – ‘Value’ respectively. Cardholders who hold charge cards which are available for further use, notwithstanding that there may not be outstanding balances thereon or that they have not been drawn on for some time, shall be reported. Cardholders who hold cards which are not available for further use shall still be reported if there are outstanding balances thereon (unless they are written off). For the avoidance of doubt, cardholders who hold only cards which are not available for further use and which have no outstanding balances shall not be reported. Number Means the number of cardholders as at the end of the quarter, and not the aggregate of the number of cardholders in the 3 months in the quarter. For the purpose of this Part, a Reporting entity shall consider an individual as a single cardholder, irrespective of the number of charge cards he holds.

29 Only individuals holding principal cards shall be included, and not individuals holding supplementary cards only. Value Means the value as at the end of the reporting quarter and not the aggregate of the 3 months’ value, unless otherwise stated. Table 6: Charge Cards CHARGE CARDS S'porean & PR Total S'porean & PR Total Number Value (S$ ‘000) 1 Number of individuals with charge cards 2 Total outstanding balance of charge cardholders 2a ‘Free credit’ balance 2b Unsettled charges of previous months 2b(i) Less than 30 days past due 2b(ii) 30-59 days past due 2b(iii) 60-89 days past due 2b(iv) 90-179 days past due 2b(v) 180+ days past due 2c Interest and other charges 3 Delinquent credit facilities 4 Bad debts written off during the quarter 5 Action initiated by Reporting entity against cardholders 5a Restructuring action 5b Collection action 5c Legal action 5d Others Delinquent Credit Facility Grading Policy:

30 Notes for Completion of Table 6: Charge Cards Item Description Notes for Completion 2 Total outstanding balance of charge cardholders Means the aggregate amount outstanding and payable to a Reporting entity due to charge cards, including ‘free credit’ balance and unsettled charges of previous months, but does not include any credit facility which has been written off. 2a ‘Free credit’ balance Refers to balance that are not subject to interest or late payment charges. For instalments, the total outstanding instalment amount, including the first billing, shall be classified under ‘free credit balance’ if the total outstanding instalment amount, including the first billing, is not subject to interest or late payment charges. The total outstanding instalment amount shall be run down each month when the individual pays his monthly instalments. Transfer balances shall be included under ‘free credit balance’ if the transfer balance is not subject to interest or late payment charges. 2b Unsettled charges of previous month Means the amounts outstanding from previous months that are subject to interest (if charged) or late payment charges. For instalments, the total outstanding instalment amount shall be classified under ‘Unsettled charges of previous month’ if any part of the total outstanding instalment amount is subject to interest (if charged) or late payment charges. The total outstanding instalment amount shall be run down each month when the cardholder pays his monthly instalments. Transfer balances shall be included under ‘Unsettled charges of previous month’ if any part of the transfer balance is subject to

31 Item Description Notes for Completion interest (if charged) or late payment charges. Where an individual owes both free credit balance and unsettled charges of previous month, the individual and the balances on all his cards shall be reported under ‘Unsettled charges of previous month’ –‘Number’ and ‘Unsettled charges of previous month’ – ‘Value’ respectively. This shall not include any overdue credit facility where the Reporting entity has negotiated for a change in repayment terms with the cardholder and payments are still being made in accordance with the repayment terms. However, where the cardholder defaults again in subsequent quarters, the figure shall be re-included in the return for that quarter. Any credit facility which has been written of shall not be reported. Interest (if charged) and other charges (e.g. late payment charges) shall be reported separately in ‘Interest and other charges’ (item 2c). 2b(i) – (v) Unsettled charges of previous month (i) Less than 30 days past due (ii) 30-59 days past due (iii) 60-89 days past due (iv) 90-179 days past due (v) 180+ days past due The number of days shall be computed based on the consecutive number of days up to the end of the reporting quarter that a charge card is overdue. Where an individual has multiple cards with varying days past due, the individual and the balances on all his charge cards shall be reported under the ‘Number’ and ‘Value’ column respectively, in the single row which reflects the past due age of the charge card with the most number of days past due. 2c Interest and other charges Means any bank charges, fees, interest charges (if charged) and late payment charges.

32 Item Description Notes for Completion 3 Delinquent credit facilities Means any credit facility which is classified as delinquent by a Reporting entity. The internal definition of delinquent credit facilities is to be reported in the ‘Delinquent Credit Facility Grading Policy’ section. When reporting the number of delinquent credit facilities, the number of cardholders is required, and not the number of cards. Interest (if charged) and other charges shall be included in the value figures. 4 Bad debts written off during the quarter Means all bad debts written off in accordance with the write off policy for bad debts of a Reporting entity. Interest (if charged) and other charges shall be included in the value figures. 5a– 5d Action initiated by Reporting entity against cardholders Means any action taken against a cardholder who has not made the required payment as at the end of the quarter. Any credit facility which has been written off shall not be reported. When a Reporting entity has taken multiple actions against such a cardholder, the relevant credit facility shall be recorded under the latest stage of action. The Reporting entity shall categorise the type of action taken against the cardholder as follows: a) ‘Restructuring action’ means any action taken by the Reporting entity to negotiate for a change in repayment terms for any overdue credit facility with a cardholder, and such credit facility is still being repaid in accordance with the new repayment terms and includes individuals reported under items 1a and 2a of Table 7 who have not made the required payment; b) ‘Collection action’ means any formal action taken by the Reporting entity against a cardholder of an overdue credit facility, for

33 Item Description Notes for Completion example, the sending of demand letters, but does not include any restructured credit facility; c) ‘Legal action’ means the assignment of any overdue credit facility to external lawyers or external debt collectors; d) ‘Others’ mean any other action which is not a collection action, legal action or restructuring action. Interest and other charges (if charged) shall be included in the value figures. Delinquent credit facility grading policy A Reporting entity shall submit to the Authority, its policy for grading delinquent credit facilities. Part V: Individuals who are 60 days or more past due or whose cumulative total outstanding unsecured amounts exceed the specified income for 3 months or more Notes for Completion of Part V Individuals and amounts reported under this Part shall not be reported in Table 5 or Table A of MAS Notice 760. Table 7 CREDIT CARDS, CHARGE CARDS & UNSECURED CREDIT FACILITIES LINKED TO DEBIT CARDS S’porean & PR Number Value ($’000) 1 Suspension for being 60 days or more past due 1a Restructuring action 2 Suspension due to cumulative total outstanding unsecured amounts exceeding specified income for 3 months or more 2a Restructuring action

34 CREDIT CARDS, CHARGE CARDS & UNSECURED CREDIT FACILITIES LINKED TO DEBIT CARDS S’porean & PR Number Value ($’000) 3 Monthly income of individuals whose cumulative total outstanding unsecured amounts exceed their specified income for 3 months or more 4 Median cumulative total outstanding unsecured amount to income ratio 5 Placed on the transitional arrangement Notes for Completion of Table 7 Item Description Notes for Completion 1 Suspension for being 60 days or more past due ‘Number’ means the total number of Singaporeans and PRs who, pursuant to Regulation 16 or paragraph 16 of MAS Notice 635, are not permitted to charge further amounts to any credit card, charge card, or unsecured credit facility linked to debit card issued to them by the Reporting entity. Where an individual is suspended pursuant to both (i) Regulation 16 or paragraph 16 of MAS Notice 635 and (ii) Regulation 17 or paragraph 17 of MAS Notice 635, he shall be reported under item 1 and not item 2. ‘Value’ refers to the total outstanding unsecured amount owed by individuals reported under item 1 -‘Number’. Interest and other charges shall be included in the value figures. 1a Restructuring action ‘Number’ means the total number of Singaporeans and PRs reported under item 1 whose credit facilities have been negotiated for a change in repayment terms, and where such credit facilities are still being repaid in accordance with the new repayment terms.

35 Item Description Notes for Completion ‘Value’ means the total outstanding unsecured amounts owed by individuals reported under item 1a –‘Number’. Interest and other charges shall be included in the value figures. 2 Suspension due to cumulative total outstanding unsecured amounts exceeding specified income for 3 months or more ‘Number’ means the total number of Singaporeans and PRs who, pursuant to Regulation 17 or paragraph 17 of MAS Notice 635, are not permitted to charge further amounts to any credit card, charge card, or unsecured credit facility linked to debit card issued to them by the Reporting entity. For the avoidance of doubt, this shall not include individuals reported under item 5. ‘Value’ refers to the total outstanding unsecured amount owed by such individuals reported under item 2 – ‘Number’. Interest and other charges shall be included in the value figures. 2a Restructuring action ‘Number’ means the total number of Singaporeans and PRs reported under item 2 whose credit facilities have been negotiated for a change in repayment terms, and where such credit facilities are still being repaid in accordance with the new repayment terms. ‘Value’ means the total outstanding unsecured amounts owed by individuals reported under item 2a –‘Number’. Interest and other charges shall be included in the value figures. 3 Monthly income of individuals whose cumulative total outstanding unsecured amounts exceed their specified income for 3 months or more Means the sum of the monthly income (based on the latest available income information that the Reporting entity has) of individuals reported in items 2 and 5. 4 Median cumulative total outstanding unsecured amount to income ratio Means the median obtained from ranking the quotient of A divided by B where —

36 Item Description Notes for Completion A refers to the cumulative total outstanding unsecured amount (based on the latest available information that the Reporting entity has obtained from a credit bureau) of an individual reported in item 2 or 5; and B refers to the monthly income (based on the latest available income information that the Reporting entity has) of the same individual. 5 Placed on the transitional arrangement ‘Number’ means the total number of Singaporeans and PRs whose respective cumulative total outstanding unsecured amounts has exceeded their respective specified income for 3 months or more, but who are still able to charge to at least one credit card, charge card, or unsecured credit facility linked to debit card because they satisfy the conditions set out in Regulation 23 or paragraph 22 of MAS Notice 635. ‘Value’ refers to the total outstanding unsecured amounts owed by individuals reported in item 5 –‘Number’. Interest and other charges shall be included in the value figures.

37 APPENDIX II: STATISTICS COLLECTION TEMPLATE FOR CARD ISSUERS WITH TOTAL OUTSTANDING BALANCE OF LESS THAN $5 MILLION THE MONETARY AUTHORITY OF SINGAPORE The Banking Act, Cap 19 Quarterly Statement of Credit Card/Charge Card Facilities Reporting Organisation: _________________________________ MM/YYYY: ______________ 1 This return is to be completed in accordance with the attached Notes for Completion. 2 Number items are to be reported in full and value items in thousands of Singapore dollars (unless otherwise stated), rounded to three decimal places. 3 This return is applicable to any credit card, charge card or unsecured credit facility linked to a debit card which is reflected in the books of a card issuer in relation to its operations in Singapore. Foreign currency credit facilities are to be converted to Singapore dollars using month-end exchange rates. [MAS Notice 759 (Amendment) 2021] 4 Credit cards and charge cards referred to in sections 57G(a) and (c) of the Act shall not be reported in this Appendix II. General Definitions Charge card Means any article, whether in physical or electronic form, of a kind commonly known as charge card intended for use in purchasing goods or services and (a) linked to a non-revolving credit facility; and (b) where the full amount of any credit utilised has to be settled by a specified date, whether or not the card is valid for immediate use. Credit card Means any article, whether in physical or electronic form, of a kind commonly known as credit card intended for use in purchasing goods or services and (a) linked to a revolving credit facility (other than a deposit account with overdraft facilities); and (b) where the full amount of any credit utilised may be settled in full by a specified date or in part, with the unpaid balance subject to interest charges, whether or not the card is valid for immediate use.

38 General Notes for Completion Item Description Notes for Completion Credit cards/charge cards A card issuer shall include statistics on co￾branded cards that it has issued. Credit cards or charge cards which fall under section 57G of the Act shall not be reported under this Part. Value Means the value as at the end of the reporting quarter and not the aggregate of the 3 months’ value, unless specifically stated otherwise. 1 Total outstanding balance Means the aggregate amount outstanding and payable to a card issuer due to credit cards, charge cards and unsecured credit facilities linked debit cards, including interest and other administrative charges but does not include any credit facility that has been written off. 2 Facilities not repaid at due date This shall include individuals who fail to make the required payment by the payment due date. Once the required payment is not repaid at due date, the entire amount outstanding, and not just the required amount that was not made, shall be included in the value figures. This shall not include any overdue credit facility where a card issuer has negotiated for a change in repayment terms with the individual and payments are still being made in accordance with the repayment terms. However, where the individual defaults again in subsequent quarters, the figure shall be included once more in the return for that quarter. Any credit facility which has been written off shall not be reported. Interest and other charges shall be included in the value figures.

39 Item Description Notes for Completion 2a￾2c Facilities not repaid at due date (a) Less than 30 days past due (b) 30-89 days past due (c) 90+ days past due The number of days shall be computed based on the consecutive number of days up to the end of the reporting quarter that an individual is past due. Where an individual has multiple credit facilities with varying days past due, the balances on all his credit facilities shall be reported in the single row which reflects the past due age of the credit facility with the most number of days past due. Interest and other charges shall be included in the value figures. 3 Bad debts written off during the quarter Means all bad debts written off in accordance with the write off policy for bad debts of a Reporting entity for the reporting quarter. Interest and other charges shall be included in the value figures. 4 Suspension for being 60 days or more past due Means the total outstanding unsecured amount owed by Singaporeans and PRs who, pursuant to Regulation 16 or paragraph 16 of MAS Notice 635, are not permitted to charge further amounts to any credit card, charge card, or unsecured credit facilities linked to debit cards issued to them by the Reporting entity. Interest and other charges shall be included in the value figures. Amounts reported under this item shall not be reported in Table 5 or Table A of MAS Notice 760. 5 Suspension due to cumulative total outstanding unsecured amounts exceeding specified income for 3 months or more Means the total outstanding unsecured amount owed by Singaporeans and PRs who, pursuant to Regulation 17 or paragraph 17 of MAS Notice 635, are not permitted to charge further amounts to any credit card, charge card, or unsecured

40 Item Description Notes for Completion credit facility linked to debit card issued to them by the Reporting entity. Interest and other charges shall be included in the value figures. Amounts reported under this item shall not be reported in Table 5 or Table A of MAS Notice 760. 6 Placed on the transitional arrangement Means the total outstanding unsecured amount owed by Singaporeans and PRs whose respective cumulative total outstanding unsecured amount across all financial institutions has exceeded the specified income for 3 months or more, but who are still able to charge to at least one credit card, charge card, or unsecured credit facility linked to debit card because they satisfy the conditions set out in Regulation 23 or paragraph 22 of MAS Notice 635. Bank charges, fees, interest charges, later payment charges other charges shall be included in the value figures. Amounts reported under this item shall not be reported in Table 5 or Table A of MAS Notice 760.

41 Table A Credit Cards/Charge Cards Value (S$ ‘000) 1 Total outstanding balance 2 Facilities not repaid at due date 2a Less than 30 days past due 2b 30-89 days past due 2c 90+ days past due 3 Bad debts written off during the quarter 4 Suspension for being 60 days or more past due 5 Suspension due to cumulative total outstanding unsecured amounts exceeding specified income for 3 months or more 6 Placed on the transitional arrangement