Regulatory Alerts2022-06-29
Added · Updated
Notice FHC-N608 on Disclosure in Financial Statements
Designated financial holding companies with a bank subsidiary incorporated in Singapore must disclose the gross aggregate amount of sub-standard, doubtful, or loss credit facilities in their financial statements. These entities are required to provide geographical, industrial, and maturity analyses of assets, income, loans, and deposits within specified categories. Additionally, supplementary information including capital adequacy components and a financial review section must be included. The notice takes effect on 1 July 2022.
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