Notice FHC-N610 on Submission of Statistics and Returns

FHC-N610
29 June 2022
NOTICE TO DESIGNATED FINANCIAL HOLDING COMPANIES FINANCIAL HOLDING COMPANIES ACT, 2013 SUBMISSION OF STATISTICS AND RETURNS Introduction

1. This Notice is issued pursuant to section 3(1) of the Financial Holding
   Companies Act 2013 [“the Act”]. It applies to all designated financial holding companies that have a subsidiary that is a bank incorporated in Singapore (referred to in this Notice as “designated FHC with bank subsidiary” or “DFHC (Bank)”). Definitions
2. In this Notice, unless the context otherwise requires –
   (a) “Accounting Standards” has the same meaning as in section 4(1) of the Companies Act (Cap. 50); (b) “parent” has the meaning given to that word in the Accounting Standards; (c) “reporting forms” means the forms annexed to MAS Notice 610 on “Submission of Statistics and Returns” (“Notice 610”) as “Appendix B1 to M”.
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. Submission Requirements
4. A DFHC (Bank) in Singapore must furnish the information set out in the
   reporting forms to the Authority and ensure that the information furnished is approved by its chief executive or any person authorised by its chief executive to do so.
5. Subject to paragraphs 6 and 7, every DFHC (Bank) must furnish the information
   set out in the reporting forms to the Authority as follows:

(a) for information set out in reporting forms that are to be furnished on a monthly basis, no later than 14 days after the last day of each month; (b) for information set out in reporting forms that are to be furnished on a quarterly or half-yearly basis, no later than 30 days after the last day of the reporting period to which the form relates; and (c) for information set out in reporting forms that are to be furnished on a yearly basis, no later than 3 months after the close of its financial year.
6. A DFHC (Bank) must furnish the information set out in the reporting forms to
the Authority in accordance with the table in Appendix A (Reporting Frequency) and the definitions and instructions in Annex 1 of MAS Notice 610 (the “Annex”), save that:
(a) a reference to “Appendix A1 Annex 2” in paragraph 24 of the Annex is to Appendix A of Notice FHC-N610; (b) a reference to “Reporting Bank” is to “DFHC (Bank)”; (c) a reference to “Overseas Bank Subsidiaries and Overseas Branches of a Bank incorporated in Singapore (other than a foreign-owned bank incorporated in Singapore” is to “Overseas Bank Subsidiaries and Overseas Branches of a DFHC (Bank) incorporated in Singapore (other than a foreign-owned DFHC (Bank) incorporated in Singapore)”; and (d) a reference to “Consolidated and standalone levels reporting for a Bank incorporated in Singapore (other than a foreign-owned bank incorporated in Singapore)” is to “Consolidated and standalone levels reporting for a DFHC (Bank) incorporated in Singapore (other than a foreign owned DFHC (Bank) incorporated in Singapore)”.
7. A DFHC (Bank) incorporated in Singapore (other than a foreign-owned DFHC
(Bank) incorporated in Singapore) must furnish the information set out in the reporting forms which are to be furnished at both the consolidated and standalone levels, with the Authority, no later than 45 days after the last day of the reporting period to which the form relates.
8. Notwithstanding any of the paragraphs in this Notice, if the day on which a
DFHC (Bank) has to furnish any information is not a Business Day, the DFHC (Bank) may furnish the information on the next Business Day. Effective Date
9. This Notice shall take effect on 1 July 2022. To avoid doubt, a DFHC (Bank) shall
comply with this Notice in respect of –

(a) the information set out in reporting forms that are to be furnished on a monthly basis beginning with the month of July 2022; (b) the information set out in reporting forms that are to be furnished on a quarterly basis for the quarter beginning on or after 1 July 2022; (c) the information set out in reporting forms that are to be furnished on a half-yearly basis for the half-year beginning on or after 1 July 2022; and (d) the information set out in reporting forms that are to be furnished on a yearly basis for all calendar years and financial years beginning with the year 2022.

Appendix A – Reporting Frequency