Singapore legislation
Regulation 6A
Regulation 6A
Minimum capital requirements for wholesale banks
Amended byS 810/2020 wef 01/10/2020S 360/2009 wef 03/08/2009
Subregulation 1
Amended byS 810/2020 wef 01/10/2020
For the purposes of section 9(1)(a) of the Act, a company that intends to carry on banking business in Singapore as a bank incorporated in Singapore must not be granted a wholesale banking licence unless its paid-up capital is not less than $100 million.
Subregulation 2
Amended byS 360/2009 wef 03/08/2009
In this regulation, “wholesale banking licence” means a licence to transact banking business, the conditions of which require the holder of that licence to comply with such guidelines as may be issued by the Authority in relation to the operation of wholesale banks; and includes a “restricted banking licence” granted by the Authority before 29th June 2001.