On 6 August 2014, the Monetary Authority of Singapore (the "MAS") issued the "Consultation Paper on Leverage Ratio Disclosure Requirements for Banks Incorporated in Singapore" (the "Consultation Paper") which set out a proposed disclosure framework for banks incorporated in Singapore to disclose their leverage ratios.
The consultation closes on 5 September 2014.
In January 2014, the Basel Committee on Banking Supervision (the "BCBS") issued its requirements for disclosure of the leverage ratio in its publication "Basel III leverage ratio framework and disclosure requirements". This consultation paper sets out proposed amendments to Parts II, IV, XI and XII of the MAS Notice 637 on Risk Based Capital Adequacy Requirements for Banks Incorporated in Singapore (the "Notice") to implement the leverage ratio disclosure requirements for Singapore-incorporated banks that are consistent with the requirements issued by the BCBS.
The proposed amendments are scheduled to take effect from 1 January 2015.