Showing 5563 Documents for "MAS"
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- MAS
- Explainers
Last revised date:
- When extending a housing loan, financial institutions (FIs) should ensure that borrowers are within the thresholds for mortgage servicing ratio and total debt servicing ratio. MSR Rules Mortgage servicing ratio (MSR) refers to the portion of a borrower’s gross monthly income that goes towards repaying all property loans, including the loan being applied for. MSR is capped at 30% of a borrower's gross monthly income. It applies only to housing loans for the purchase of an HDB flat, or an executive
- MAS
- Explainers
Last revised date:
- The maximum housing loan borrowers can take depends on their age, loan duration and property type, and whether they have existing housing loans. Joint borrowers are assessed using an income-weighted average age. Loan Tenure The maximum loan tenure for housing loans is capped at: 30 years for HDB flats. 35 years for non-HDB properties. Calculating Age for Joint Borrowers For joint borrowers, use their income-weighted average age as their present age. This formula calculates their average age as it
- MAS
- Explainers
Last revised date:
- When refinancing a mortgage equity withdrawal loan (MWL), financial institutions (FIs) need to meet the rules for loan-to-value limits, tenure cap and total debt servicing ratio. Loan Tenure Cap The loan tenure for mortgage equity withdrawal loans (MWLs) is capped at 35 years. Loan-To-Value Limits For an individual or a shell company, the MWL, together with amount outstanding of any loan secured on same residential property and CPF monies used, have the following LTV limits: Outstanding housing loans
- MAS
- Explainers
Last revised date:
- When granting a housing loan, financial institutions (FIs) should base the loan amount on the residential property's adjusted purchase price, which is the price after the deduction of any discounts, rebates or other benefits. Deducting Discounts, Rebates or Benefits When arriving at the adjusted purchase price of a residential property, financial institutions (FIs) must: Deduct any discount, rebate or any other benefit offered by any party, whether directly or indirectly, arising from and resulting
- MAS
- FAQs
Last revised date:
- Provides guidance to financial institutions on the submission of representative notifications though the CoRe system.
- MAS
Last revised date:
- Sets out the entities that are "specified financial institution" in relation to an issue structured notes.
- MAS
- Regulations
Last revised date:
- Regulations setting out licensing requirements and obligations of Holding Companies of operators of regulated markets, regulated clearing houses and trade repositories 08 Oct 2018 Securities and Futures (Approved Holding Companies) (Amendment) Regulations 2018 takes effect. 01 Mar 2007 Securities and Futures (Approved Holding Companies) (Amendment) Regulations 2007 takes effect.
- MAS
- Regulations
Last revised date:
- Regulations setting out licensing requirements and obligations of Trade Repositories 08 Oct 2018 Securities and Futures (Trade Repositories) (Amendment) Regulations 2018 takes effect. 31 Oct 2013 Securities and Futures (Trade Repositories) (Amendment) Regulations 2013 takes effect.
- MAS
- Regulations
Last revised date:
- Regulations on procedure for appeals under Parts II and III of the Securities and Futures Act. Related regulations: Securities and Futures (Appeals under Parts II and III of Act) Regulations 2002 08 Oct 2018 Securities and Futures (Appeals under Parts II and III of Act) (Amendment) Regulations 2018
- MAS
- Subsidiary Legislation
Last revised date:
- Sets out that all licensed insurers are not allowed to pay volume or value-based incentives on the sale of any life policy excepted under stipulated conditions. 09 Mar 2017 Insurance (Remuneration) (Amendment) Regulations 2017 takes effect on 1 Apr 2017.