Notice 811 Credit Files, Grading and Provisioning

Notices

Last Revised Date: 15 March 2021

Notice 811 Credit Files, Grading and Provisioning

Requirements for all finance companies on the maintenance of credit files, grading of credit facilities and determination of credit loss allowance.

Credit Risk

Issued pursuant to:

Finance Companies Act (Cap. 108) section 30

Applies to:

Finance Company

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Notice 811 Credit Files, Grading and Provisioning

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This notice applies to all finance companies. It sets out the requirements on:

Maintenance of credit files and the basic information required for objective credit assessment.

Grading of credit facilities.

Recognition of loss allowance for expected credit loss.

Please refer to MAS Notice 811A for the credit grading treatment in relation to the credit facilities granted support measures by finance companies in response to the on-going novel coronavirus ("COVID-19") outbreak.

16 Mar 2021

MAS Notice 811 (Amendment) 2021 (239.7 KB) takes effect.

01 Jan 2018

MAS Notice 811 dated 29 December 2017 (355.8 KB) takes effect.

01 Jan 2018

MAS Notice 811 dated 11 March 2005 (40.8 KB) is cancelled.

14 Mar 2005 MAS Notice 811 dated 1 December 1983 is cancelled.

Requirements for all finance companies on the provision for and writing off of bad debts.

Requirements for finance companies on maintaining credit files, grading credit facilities and determining credit loss allowance.

Consultation number:

P009 - 2017

Start date:

12 May 2017

Closing date:

12 June 2017

MAS response date:

19 October 2017

Governs the licensing and and regulation of finance companies in Singapore.