Resources for Basel II Capital Accord (Basel II)

Basel II - MAS releases rules for Singapore

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The Monetary Authority of Singapore (MAS) released its interpretation of the Basel II rules for Singapore. The formalisation of the rules follows a three year consultation process. The Singapore Basel II rules will come into effect on 1st January 2008.

The MAS implementation of Basel II appears to be very close to the standard Basel II interpretation as released in 2005 and 2006. The ruling will apply to all Singapore-incorporated banks, and, in contrast to a number of other jurisdictions, MAS does not intend to require banks to adopt specific approaches from among those that are available under Pillar 1 (Basic, Standardised, IRB, AMA, etc), but expects each bank to adopt the approaches that match with its risk profile.

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