Notices

Last Revised Date: 30 December 2004

Notice 606 Provision for and Writing Off Bad Debts

Requirements for all banks in Singapore when making provisions for and writing off bad debts.

Credit Risk

Issued pursuant to:

Banking Act (Cap. 19) section 23 and section 55

Applies to: Full Bank (Locally Incorporated) , Full Bank (Branch) , Wholesale Bank (Branch) , Wholesale Bank (Locally Incorporated)

View Notice Notice 606 Provision for and Writing Off Bad Debts (43.9 KB)

This notice sets out the requirements for all banks in Singapore to:

Maintain adequate provisions for bad and doubtful debts.
Seek MAS' approval before writing off bad debts to certain related parties.

01 Jan 2005: MAS Notice 606 (Amendment) 2004 takes effect.
11 Nov 2002: MAS Notice 606 dated 11 November 2002 is issued.
11 Nov 2002: MAS Notice 606 dated 21 February 1978 is cancelled