Last Revised Date: 29 June 2021

Notice 1005 Credit Files, Grading and Provisioning

Requirements for merchant banks on maintaining credit files, grading credit facilities and determining credit loss allowance.

Issued pursuant to:

Banking Act (Cap. 19) section 55(1)

This notice applies to all merchant banks in Singapore. It covers requirements for:

  • Maintenance of credit files and the basic information required for objective credit assessment.
  • Grading of credit facilities.
  • Recognition of loss allowance for expected credit loss.

Please refer to MAS Notice 1005A for the credit grading treatment in relation to the credit facilities granted support measures by merchant banks in response to the on-going novel coronavirus ("COVID-19") outbreak.

Amendment Notes

01 Jul 2021
MAS Notice 1005 dated 29 June 2021 takes effect.

14 Mar 2005
MAS Notice 1005 dated 01 November 1985 is cancelled.