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MAS Issues Consultation Paper on the Proposed Regulatory Framework for Mortgage Insurance Business 
Posted on Thursday, October 12, 2006 - 08:00 AM

In July 2005, MAS announced that it is prepared to consider mortgage insurance as an alternative risk mitigant to higher capital charge on certain loans and that it would study the appropriate regulatory framework for mortgage insurers. The consultation paper sets out the proposed regulatory framework for mortgage insurance business. The paper also describes how mortgage insurance will be treated in the calculation of the capital requirements for locally incorporated banks.

MAS invites interested parties to submit their views and comments on the recommendations set out in this consultation paper. Submissions in electronic form are strongly preferred and should be sent via e-mail to the following address: mg_ins06@mas.gov.sg.

Written comments should be submitted to:
Insurance Supervision Department
Monetary Authority of Singapore
10 Shenton Way
MAS Building
Singapore 079117
Fax: (65) 6229 9694

All comments should be submitted to MAS by 15 November 2006.