Singapore legislation
Clause 10
of Banking Bill
Clause 10
Capital funds
(1)
The Commissioner may require banks to maintain capital funds in Singapore in proportion to their total assets or to every category of assets at such ratio or ratios as may from time to time be prescribed.
(2)
Any bank which fails to comply with the requirements of the Commissioner under the provisions of subsection (1) of this section shall be guilty of an offence under this Act and shall be liable on conviction to a fine not exceeding five thousand dollars and in the case of a continuing offence to a further fine of one thousand dollars for every day during which the offence continues after conviction.