Guidelines on Risk Management Practices – Credit Risk

Risk management strategy and organisational structure. Policies and procedures for origination, monitoring and administration of credit transactions and ... Home Regulation Guidelines GuidelinesonRiskManagementPractices–CreditRisk Decreasefontsize Increasefontsize Printthispage Guidelines PublishedDate:01March2013 GuidelinesonRiskManagementPractices–CreditRisk Guidelinesforfinancialinstitutionsonmanagingtheircreditrisk. CreditRisk GuidelinesonRiskManagementPractices Investments Appliesto: FullBank(LocallyIncorporated) , FullBank(Branch) , WholesaleBank(Branch) , WholesaleBank(LocallyIncorporated) , FinanceCompany , MerchantBank(LocallyIncorporated) , MerchantBank(Branch) , DirectInsurer(Life) , DirectInsurer(General) , DirectInsurer(Composite) , Reinsurer(Life) , Reinsurer(General) , Reinsurer(Composite) , CaptiveInsurer , Lloyd'sAsiaScheme , FinancialHoldingCompany(Insurance) , DealinginCapitalMarketsProducts , ProductFinancing , LicensedFundManagementCompany , CorporateFinanceAdvisory , REITManagement , RegisteredFundManagementCompany , CreditRatingAgency , SecuritiesCrowdfunding , VentureCapitalFundManagementCompany , ExemptFuturesBroker , ExemptOTCDerivativesBroker , ProvidingCustodialServices , ExemptCorporateFinanceAdviserServingAccreditedInvestors , ApprovedCISTrustee , ExemptTrustCompany , LicensedTrustCompany , ExemptPersonProvidingTrustServices , ClearingHouse , Credit/ChargeCardIssuer , MajorPaymentInstitution , StandardPaymentInstitution , Money-changingLicensee ViewDocument GuidelinesonRiskManagementPractices–CreditRisk (337.8KB) Creditriskistheriskarisingfromtheuncertaintyofanobligor’sabilitytoperformitscontractualobligations.Theseguidelinesapplytofinancialinstitutions(FIs)thatextendcredit,andprovideFIswithguidanceonkeyprinciplesof,andsoundpracticesincreditriskmanagement. Theguidelinescover: Riskmanagementstrategyandorganisationalstructure. Policiesandproceduresfororigination,monitoringandadministrationofcredittransactionsandportfolios. Measurement,monitoringandcontrolofcreditrisk. Creditriskinatradingbook. ThisconsultationpapersetsoutMAS’proposedrevisionstotheGuidelinesonCorporateGovernanceforDesignatedFinancialHoldingCompanies,Banks,DirectInsurers,ReinsurersandCaptiveInsurerswhichareincorporatedinSingapore.MASisproposingtheserevisionstakingintoaccountinternationalstandardsandindustrygoodpractices. Consultationnumber: P004-2021 Startdate: 07May2021 Closingdate: 18June2021 MASresponsedate: 09November2021 Status: Responded Enterpriseriskmanagement(ERM)requirementsandguidelinesforlicensedinsurers. InformationpaperoutliningMAS'keyobservationsfromareviewoftheindustry’sOwnRiskandSolvencyAssessment(ORSA)reports,withtheaimofguidinginsurerstowardsimprovingtheirrespectiveORSAs. Requirementsandprinciplesthatshallgoverninsurers'investmentactivities.