As part of MAS' ongoing review and update of MAS Notices to financial institutions, we have revised MAS Notice 610. A copy of the revised MAS Notice 610 is enclosed. The Notice can also be downloaded from the MAS website.
2 The MAS invited comments from the banks in Singapore in March and have incorporated their feedback in the new returns. We would like to thank all respondents for their comments.
3 In order to allow banks time to modify their internal systems to meet the revised reporting requirements, the revised Notice will take effect on 1 March 2004, i.e. the first monthly return under the revised Notice will be submitted on 10 April 2004 for March data. The first quarterly return, Appendix 3, will be on 10 July 2004 covering the April-June 2004 quarter.
4 In the interim, banks should continue to submit their monthly returns in accordance with the existing MAS Notice 610. The last monthly return under this existing return will be submitted on 10 March 2004 for the data covering February 2004.
5 The submission of returns under the revised MAS Notice 610 should be done electronically through the MASNET Website (http://masnet.mas.gov.sg). Technical details would be given to banks at a later date.
6 If your bank has any enquiries on MAS Notice 610, please contact Mr. Ivan Tan Yong Ek (details below). For enquiries on MASNET-related procedures, please contact the MASNET Helpdesk (Tel No. 1800 2258247 or 62299688).
Please send your enquiries to:
Attention: Tan Yong Ek Ivan
Email: mas610@mas.gov.sg
Fax: (65) 6229 9659
Yours faithfully
JOHN PALMER
DEPUTY MANAGING DIRECTOR
PRUDENTIAL SUPERVISION GROUP
