Edward Chia on Financial Services and Markets (Amendment) Bill
In parliament on Tuesday (Oct 6), MP Edward Chia asked about giving the Monetary Authority of Singapore the power to impose Total Loss-Absorbing Capacity requirements on specified financial institutions. He wanted to know the ratio that will be imposed on domestic systemically important banks and the implementation period; how these parameters have been derived and will be reviewed; and the potential impact on the regional competitiveness of local banks.
In parliament on Tuesday (Oct 6), MP Edward Chia asked about giving the Monetary Authority of Singapore the power to impose Total Loss-Absorbing Capacity requirements on specified financial institutions. He wanted to know the ratio that will be imposed on domestic systemically important banks and the implementation period; how these parameters have been derived and will be reviewed; and the potential impact on the regional competitiveness of local banks.
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