MAS publishes revised Framework for Impact and Risk Assessment of Financial Institutions

29 April 2024

In March 2024, the Monetary Authority of Singapore (“MAS”) published a revised version of MAS’ Framework for Impact and Risk Assessment of Financial Institutions (“Framework”). The Framework has been updated to include the domestic systemically important insurer (“D-SII”) framework and policy measures under Appendix 2 of the Framework.

By way of background, MAS had on 21 September 2023 issued the consultation response for the D-SII framework, along with the inaugural list of D-SIIs effective 1 January 2024. This was followed by a public consultation on a new notice for recovery and resolution planning for insurers (“MAS Notice 134”). MAS Notice 134 was issued on 29 December 2023 and applies to insurers that have been notified by MAS (“notified insurers”). Notified insurers are D-SIIs for now.

More information on MAS Notice 134 is set out in our article “MAS issues notice on recovery and resolution planning for insurers”.

Reference materials 

The following materials are available on the MAS website www.mas.gov.sg:

• MAS’ Framework for Impact and Risk Assessment of Financial Institutions
• ID 06/24 Inclusion of Domestic Systemically Important Insurers (D-SII) Framework in MAS’ Framework for Impact and Risk Assessment of Financial Institutions