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This factsheet describes the reporting solutions that FRSGlobal provides to financial institutions that
need to meet Singapore regulatory requirements
The Monetary Authority of Singapore is Singapore's central The product ensures that the regulatory guidelines are
bank. It was set up in 1971 to oversee various monetary implemented in the report and ensures standardisation of
functions associated with banking as well as finance. the reports in conformity with Regulatory norms, thereby
Before its establishment, monetary functions were relieving the individual banker to look into the guidelines of
performed by government departments and agencies. The each report for compliance and concentrating on their
MAS Act gives MAS the authority to regulate all elements business
of monetary, banking and financial aspects of Singapore.
The product is backed up by a Global Data Foundation,
The MAS has been given powers to act as a banker to and which covers the major requirements of Banks across the
financial agent of the Government. It has also been countries and brings uniformity in line with implementation
entrusted to promote monetary stability, and credit and of near standard regulations in Banks for Basel II
exchange policies conducive to the growth of the economy. requirements across the Globe.
In April 1977, the Government decided to bring the Various processes and computations handled in the
regulation of the insurance industry under the wing of the product:
MAS. The regulatory functions under the Securities
Industry Act (1973) were also transferred to MAS in The Product has inbuilt intelligence in form of the
September 1984. coverage process which provides with the logic of:
The MAS now administers the various statutes pertaining Expanding the links between collateral and limit and
to money, banking, insurance, securities and the financial unfolds the complex linkages of loans and their
sector in general. Following its merger with the Board of coverage.
Commissioners of Currency on 1 October 2002, the MAS Ranking: Collaterals are ranked in order of its risk
has also assumed the function of currency issuance. weighting e.g. fixed deposit more „reliable‟ than
corporate guarantee its degree of liquidity e.g. cash
acct is more liquid than stocks. Credit exposures are
MAS reporting requirements also ranked in order of its degree of risk of exposure
e.g. mortgage loan is considered before guarantees.
Reports are classified into Modules based on the reporting Coverage process matches collaterals vs exposures
authority and reporting requirement according to these rankings
Apportionment of the securities among linked loans:
SGMAS BASE SET: SGMAS Base Module the main set This step will apportion the Collaterals against the
of reports (more than 20 group of reports) for Balances and the Facilities. It will take the lowest risk
commercial banks that encompasses balance sheet Cover (smaller ranking no.) and matches against the
information, liquidity requirements, profit and loss highest risk Balance (smaller ranking no.)
Classifying the loans based on coverage of security
SGMAS BIS Module - Singapore Consolidated banking (fully secured loans, partially secured loans and
Statistics unsecured loans).
Ranking of borrowers and depositors based upon the
SGMAS Compliance Module - Singapore Compliance, a total deposit or total borrowing
group of daily reports on collateral, equity investments
and large exposures. Netting process is built effectively to sum up the debit
and credit balances at a product level or group of
SGMAS Top100 Module - a bi-annual set of reports on product level as per the report requirement and the
the top borrowers from a credit institution processing being part of mapping, a background
process, enhances the performance of report allocation.
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Cross Validations: these validations ensure that there is
Additional Intelligence built via line item calculations, data consistency and that basic business rules related to
decision tables and maturity band calculations to data requirement are net
facilitate data allocation.
Regulatory Validations: As prescribed by the regulator,
Time Band Calculations are calculated during mapping. these validation rules are incorporated in the product.
Some of the main maturity bands calculated are Original These validation rules cater to inter and intra report
Maturity , Remaining Maturity, Next Interest Re-pricing, conditions / checks that need to be met in order to
Next Interest Settlement and Next Rollover Date. The validate the data and avoid wrong reporting
calculations are split across calendar and business
dates using the holiday table
Report Delivery
Carry Balance Concept: Some report requires the
qualifying liabilities related data to be reported pertaining Reports can be output in an electronic format as text files
to a past period. The product computes and maintains and emailed to the regulators. The delivery instructions are
the required data on daily basis for use during reporting. made available as a part of reporting requirement.
This reduces the processing load on the reporting date.
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information and successfully produce the required reports.
For our customers who employ more advanced
approaches, our solution provides a robust method of
storing reported data in a way that can be interrogated and
is secure. It also provides a full set of up-to-date templates
that include validations and a transmission mechanism.
The FRSGlobal solution supports mixtures of standard and
advanced reporting, supplementing modelled approaches
with its own calculation engine to create a single source for
firm-wide reporting.
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Reports
MAS 601/1001 Capital Funds, Net Head Office It reports certain approved assets located in Singapore and the
Funds and Head Office Capital Funds NHOF
MAS 610/1003 Submission of Statistics and All banks in Singapore are required to submit to The Monetary
Returns - Monthly Statement Of Assets And Authority of Singapore (MAS) the Bank‟s First Schedule. Returns
Liabilities (ACU AND DBU) Appendix 1 by a bank should cover the operations of all the bank‟s branches
in Singapore. This schedule shows the assets and liabilities of
the bank (including its branches in Singapore) at the close of
business on the last business day of each month. This return
consists of three main appendices. (Appendix 1A, 2A and 3A).
MAS 610/1003 App 1 A - Statement of Assets & Core balance sheet information
Liabilities – A-Liabilities
On balance assets and liabilities
MAS 610 App 1 B - Statement of Assets &
Liabilities – B-Assets Off balance commitment and contingencies
MAS 610 App 1 C - Statement of Assets & Off balance memo items (AUM, Collection)
Liabilities – C-Contingents
MAS 610/1003 Annex 1A - Approved Assets and This report shows the approved assets of the banks and the
Capital Funds (for banks incorporated outside capital funds. Only banks incorporated outside Singapore are
Singapore) supposed to report this page. Similar to 601 but combined DBU+
ACU position
MAS 610/1003 Annex 1B - Deposits of Non-Bank Classification of deposit base by size, aggregation of all accounts
Customers of a single depositor before reporting
MAS 610/1003 Annex 1C - Interbank By Counterparty in Singapore (amounts and names of banks in
Indebtedness Singapore with whom the bank has transactions) Amount due
from and due to banks
MAS 610/1003 Annex 1D - Loans and Advances Classification loans and advances by different size band, by
(Including Bills) product, by customer count, new limit granted. Classification of
loans exposure by industries
MAS 610/1003 Annex 1E - Deposits, Loans, Country exposure on customer deposits , loans , investment and
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Classified by Country
MAS 610/1003 Annex 1F - Underwriting Activities In this Annex the commitments of the reporting institution related
to underwriting activities is reported
MAS 610/1003 Annex 1G - Derivative Contracts The reporting requirement of the Derivative contracts are split
into trading and non-trading under five broad risk categories
MAS 610/1003 Annex 1H - Assets and Liabilities Cashflow reporting on various on balance assets and liabilities
by Maturity into different maturities buckets
MAS 610/1003 Annex 1I - Breakdown of Financial Classification of financial assets and liabilities into various
Assets, Financial Liabilities and Fair Value portfolios (Trading, FVO, AFS, HTM and hedging )
Gains/Losses
MAS 610/1003 Return on Monthly Foreign All banks are required to submit to the MAS a return on total
Exchange Business Transacted by Banks, foreign exchange business and other derivatives transacted for
Merchant Banks and Asian Currency Units the month.
Appendix 2
MAS 610/1003 App2 PART I: Spot, Forwards and Foreign Exchange Business categorized product –wise – Spots,
FX Swaps Forwards and FX Swaps
MAS 610/1003 App2 PART II: Currency Options Foreign Exchange Business categorized product –wise –
Currency Options
MAS 610/1003 App2 PART III: Currency Futures Foreign Exchange Business categorized product –wise –
Currency Futures
MAS 610/1003 App2 PART IV: FRAS, Interest Foreign Exchange Business categorized product –wise – FRS‟s,
Rate Swaps and Currency Swaps Interest Rate Swaps and Currency Swaps
MAS 610/1003 Quarterly Return on Classified Classification of on and off credit exposures by loan grading, by
Exposures Appendix 3 industries and determination of secured /unsecured portion
MAS 610/1003 App 3 PART I: By Classification Exposures Classified by Account classification on Provision
and Provision
MAS 610/1003 App 3 PART II: Classified Exposures Classified by Industry Type
Exposures by major industry
MAS 610/1003 App 3 PART IV: Housing loan to This report gives an indication of the cover available to protect
value Ratio the bank against default of homeowners
MAS1004 - ACU/DBU Credit Facilities To Related Special monitoring related on credit exposures to related parties
Concerns Appendix 1 as stated in s27(1) of the Banking Act
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MAS613 - Minimum Liquid Assets This report is the new liquidity reports set for banks in Singapore.
All banks are required to submit the appropriate liquidity returns
as specified in this notice.
Form 1 Minimum Liquid Assets Requirements Report showing the Qualifying Liabilities and Liquid Assets
637 Risk Based Capital Adequacy Requirements The objective of the Basel II framework was to enhance the
for Banks Incorporated in Singapore soundness and stability of the banking system by aligning the
minimum regulatory capital requirements more closely to the
risks that banks face, and encouraging improvements in banks‟
risk management.
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639 Exposures to Single Counterparty Groups This notice sets out the limits on a bank‟s exposures to a single
counterparty group, the types of exposures to be included in or
excluded from those limits, the basis for computation of
exposures, the approach for aggregating exposures to
counterparties that pose a single risk to the bank, the recognition
of credit risk mitigation and aggregating of exposures at the bank
group level
639A Exposures and Credit Facilities to Related Every bank is expected to maintain detailed records of individual
Concerns exposures to each related person listed in section 27(1) of the
MAS Act. All such exposures to related concerns are required to
be reported in a prescribed form each quarter of the year.
640 Minimum Asset Maintenance Requirements This report sets out the minimum asset maintenance (AM)
requirements for foreign bank branches in Singapore.
MAS 755/1104 Weekly Report on S$ Transactions All banks and merchant banks in Singapore have to report their
weekly spot and outright forward transactions of foreign currency
against the Singapore dollar. Weekly reporting is required, and
each reporting week starts on a Monday. The completed reports
should reach the Authority by 1700 hours on the next working
day immediately after the end of each reporting week.
MAS 757/1105 - Lending of Singapore Dollar to All banks, monthly 10 days after reporting month are required to
Non-Resident Financial Institutions report lending of SGD to Non-Resident Financial Institutions. This
contains the SGD Credit facilities.
ACU/DBU Quarterly Income & Expenditure This MAS report requires the reporting of a ACU or DBU unit of a
commercial bank or merchant bank profit and loss items.
SGS holdings in Custody The report lists the Singapore Government Securities held by a
reporting institution that is acting as custodian. The custodian is
required to list its holdings in custody split over the third parties
for whom it acts as the custodian. These third parties are split
into resident and non-resident parties. The SGS are split into
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bonds and treasury bills, and split into different categories based
upon the remaining term.
Section29 Credit Facilities & Limits The reports as defined in Section 29 of the Banking Act are
compliance type reports relating to credit facilities & limits
granted to a bank‟s customers. The purpose is to prevent a bank
from lending an unduly large proportion of its deposits to any 1
(or a small groups) of borrowers.
Part 1a Sect29 1a Largest Single or Group of Borrowers - A bank shall not grant or
let it be outstanding to any borrower or group, credit facilities
whose sum exceed 25% of its capital funds.
Part 1b Sect29 1b Substantial Loans - For any substantial loan granted or let it be
outstanding to any borrower or group, the aggregated sum must
not exceed 50% of the bank‟s total facilities. Substantial loan is
one which is > 15% of a bank‟s capital funds
Part 1d Sect29 1d Unsecured Loans to Related Parties - A bank shall not grant
unsecured facilities or have outstandings to its directors either
directly or indirectly exceeding SGD5000.
Section31 Limit on Equity Investment This report caters to Banking Act Section 31 which states no
bank in Singapore shall acquire or hold any equity investment in
a single company, the value of which exceeds in the aggregate
2% of the capital funds of the bank or such other percentage as
the Authority may prescribe with certain exceptions as specified
in the Section.
Section35 Immovable Property This report caters to Banking Act Section 35:
ACU - Guidelines of Operations of ACU From the Asian Currency Unit Terms & Conditions of Operation:
Para3 – The Unit's total assets/liabilities shall not exceed the limit
fixed by The Monetary Authority of Singapore from time to time
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ACU Book Sz – report for compliance to Para3 Prohibited SGD Transactions in ACU
ACU SGD Txn – report for compliance to Para4- ACU Book Size Restrictions
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ACU/DBU Top100 Borrowers All banks, merchant banks, and finance companies in Singapore
have to report twice per year the groups to which the 100 biggest
borrowers belong. In addition to the outstanding balances also
facility size, shareholders, and other details have to be reported.
Top100 Borrowers – Summary List Report necessary to determine the Top 100 customer groups to
be reported
Top100 Borrowers For 1st to 150th Customer on One report is generated per customer listed as a Top100
List customer groups
Consolidated banking Statistics All banks in Singapore are required to submit to The Monetary
Authority of Singapore (MAS) the „BIS Consolidated Banking
Statistics‟ (referred to as CBS). There is a different requirement
for different types of banks. The consolidated banking statistics
report covers two areas:
BIS_FB.bk - Consolidated international banking Only required for locally incorporated banks
statistics (immediate borrower basis) - Domestic
banks
BIS_UB.bk - Consolidated international banking Only required for locally incorporated banks
statistics (ultimate risk basis) - Domestic banks
BIS_FC.bk - Consolidated international banking Only required for banks incorporated in one of 30 countries
statistics (immediate borrower basis) (known as the 'inside area')
BIS_FD.bk - Consolidated international banking Only required for banks not incorporated in one of 30 countries
statistics (immediate borrower basis) - Outside (known as the 'outside area')
area foreign offices
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Copyright © 2009 FRS Belgium NV ("FRSGlobal"). All rights reserved. All other registered or unregistered trademarks and
service marks are property of their respective companies and should be treated as such. No part of this publication may be
reproduced, transcribed, transmitted, stored in a retrieval system, computer or otherwise, in any form or by any means, magnetic,
mechanical, electronic, optical, manual or otherwise, and may not be translated into any language without the express written
permission of FRSGlobal.
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