31 January 2018

On 20 December 2017, the Monetary Authority of Singapore (“MAS”) issued a revised MAS Notice 652 on “Net Stable Funding Ratio” (“MAS Notice 652”).

By way of background, MAS Notice 652 was first issued by MAS on 10 July 2017 with a commencement date of 1 January 2018. It applies to a bank in Singapore which has been notified by MAS that it is a domestic systemically important bank (“D-SIB”). MAS Notice 652 sets out the minimum all currency net stable funding ratio (“NFSR”) requirements that a D-SIB has to comply with.

MAS Notice 652 has been revised to delay the implementation of paragraph 40(d). Essentially, the required stable funding (RSF) add-on for derivative liabilities has been delayed until further notice by MAS.

Reference materials

 The following materials are available on the MAS website www.mas.gov.sg:

 

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