Regulatory Alerts2005-12-22
Added
Notice TCA-N02 on Qualifying Assets and Reduction Percentages
The Monetary Authority of Singapore issued Notice TCA-N02 to specify the qualifying assets and reduction percentages that licensed trust companies incorporated outside Singapore must maintain. The notice mandates that these assets be booked in Singapore, remain unencumbered, and exclude intra-group exposures, with their value calculated by applying specific reduction percentages to various asset categories. These requirements, which include distinct valuation methods for cash, government securities, and corporate debt, took effect on 1 February 2006.
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