New credit-exposure regulation in Singapore
As of 31 March 2009, all banks regulated by the Monetary Authority of Singapore will need to submit two new reports: MAS 639 and MAS 639A. The object of these regulatory changes is to limit the risk concentration of a bank. The imposition of new limits will help banks to limit contagion risk and minimise the scope for conflict of interests. The regulator has not yet published the formats for these reports. Once the report templates are published, banks can comply any time from that date onwards, up to 31 March 2009 when the reporting becomes compulsory.
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