Notice 811 Credit Files, Grading and Provisioning
Requirements for all finance companies on the maintenance of credit files, grading of credit facilities and determination of credit loss allowance.
This notice applies to all finance companies. It sets out the requirements on:
- 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.
Requirements for all finance companies on the provision for and writing off of bad debts.
Requirements for finance companies on maintaining credit files, grading credit facilities and determining credit loss allowance.
- Consultation number:
- P009 - 2017
- Start date:
- 12 May 2017
- Closing date:
- 12 June 2017
- MAS response date:
- 19 October 2017
Governs the licensing and and regulation of finance companies in Singapore.