Notices
 Last Revised Date: 28 June 2021

Notice 625 Compliance with Sections 31 and 33 on a Consolidated Basis

Requirements for banks to comply with sections 31 and 33 of the Banking Act on a consolidated basis.

Issued pursuant to:

Banking Act (Cap. 19) section 65(2)

Applies to: Full Bank (Locally Incorporated) , Full Bank (Branch) , Wholesale Bank (Branch) , Wholesale Bank (Locally Incorporated)
View Notice Notice 625 Compliance with Sections 31 and 33 on a Consolidated Basis (134.2 KB)

This notice applies to all banks in Singapore. Banks are required to comply with sections 31 and 33 of the Banking Act on a consolidated basis, by aggregating assets, liabilities, profits or losses with those of their related corporations and companies.

Amendment Notes

01 Jul 2021
MAS Notice 625 (Amendment) 2021 (586.2 KB) dated 28 June 2021 takes effect.

22 Nov 2004
MAS Notice 625 dated 22 October 2004 takes effect.
22 Nov 2004
MAS Notice 625 dated 11 November 2002 is cancelled.