Public consultation on legislative amendments to unsecured credit rules

17 DEC 2007

17 Dec 2007 Posted in Press releases

The public consultation is now closed.

  1. Last year, MAS and the Ministry of Law (“MinLaw”) conducted a joint public consultation on the proposed changes to the unsecured credit rules for financial institutions and the proposed application of these rules to moneylenders with appropriate modifications. MAS had also conducted another consultation this year on the exemption for financial institutions from the maximum credit limit when granting credit to individuals with greater financial means. Pursuant to the feedback received, MAS and MinLaw have proceeded to draft respective rules applicable to unsecured lending by financial institutions regulated under MAS and moneylenders under MinLaw.

  2. MAS and MinLaw would like to invite interested parties to forward their views and comments on these draft rules. Electronic submission is encouraged. Please submit your written comments by 17 January 2008 to:

Prudential Policy Department

Monetary Authority of Singapore

10 Shenton Way

MAS Building

Singapore 079117

Fax: 62203973

Email: policy@mas.gov.sg

OR

Ministry of Law

100 High Street #08-02

The Treasury

Singapore 179434

63328842

ipto_romp@ipto.gov.sg

  1. Please also note that all submissions received may be made public unless confidentiality is specifically requested for whole or part of the submission.
  1. Consultation paper (0.4MB) on legislative amendments to unsecured credit rules.

Last updated on 25 Nov 2012