Notices
Notice 612 Credit Files, Grading and Provisioning
Requirements for banks on maintaining credit files, grading credit facilities and determining credit loss allowance.
Issued pursuant to:
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.
Amendment Notes
- 16 Mar 2021
- MAS Notice 612 (Amendment) 2021 (244.7 KB) takes effect.
- 01 Jan 2018
- MAS Notice 612 dated 29 December 2017 (359.5 KB) takes effect.
- 01 Jan 2018
- MAS Notice 612 dated 11 March 2005 is cancelled.
- 14 Mar 2005
- MAS Notice 612 dated 11 March 2005 (40.8 KB) takes effect.
- 14 Mar 2005
- MAS Notice 612 dated 30 December 2004 is cancelled.
Related to this Notice
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NoticesLast 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.
-
GuidelinesLast Revised Date: 01 July 2022
Guidelines on the Application of Banking Regulations to Islamic Banking
Guidelines for all financial institutions covering MAS' general approach to Islamic banking regulations.
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NoticesLast Revised Date: 28 January 2022
Notice 610 Submission of Statistics and Returns
Requirements for banks on submitting returns to MAS, including reporting forms, completion notes and submission timeframe.
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NoticesLast Revised Date: 29 June 2021
Notice 612A Credit Files, Grading and Provisioning - COVID-19
Requirements for banks on maintaining credit files, grading credit facilities and determining credit loss allowance.
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Monographs/Information PapersPublished Date: 25 October 2018
Thematic Review of Credit Review Standards and Practices of Corporate Lending Business
Information paper on banks’ credit review standards and practices for the corporate lending business, including areas where financial institutions should pay additional attention to, and good practices observed during MAS’ thematic review.