Requirements for banks on maintaining credit files, grading credit facilities and determining credit loss allowance.
This notice applies to all 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.
The notice also sets out requirements specific to locally-incorporated domestic systemically important banks (D-SIBs) in Singapore, such as a minimum level of credit loss allowances and the setting up of regulatory loss allowance reserves.
Please refer to MAS Notice 612A for the credit grading treatment in relation to the credit facilities granted support measures by banks in response to the on-going novel coronavirus ("COVID-19") outbreak.