Notices
 Last Revised Date: 20 July 2022

Notice 606 Provision for and Writing Off of Bad Debts [Cancelled with effect from 21 July 2022]

Requirements for all banks in Singapore when making provisions for and writing off bad debts.

Issued pursuant to:

Banking Act (Cap. 19) section 23 and section 55

Applies to: Full Bank (Locally Incorporated) , Full Bank (Branch) , Wholesale Bank (Branch) , Wholesale Bank (Locally Incorporated)
View Notice Notice 606 Provision for and Writing Off of Bad Debts [Cancelled with effect from 21 July 2022] (63 KB)

This notice sets out the requirements for all banks in Singapore to:

  • Maintain adequate provisions for bad and doubtful debts.
  • Seek MAS' approval before writing off bad debts to certain related parties.

Amendment Notes

01 Jan 2005
MAS Notice 606 (Amendment) 2004 takes effect.

11 Nov 2002
MAS Notice 606 dated 11 November 2002 is issued.

11 Nov 2002
MAS Notice 606 dated 21 February 1978 is cancelled.