The MAS has required DBS to apply a multiplier of 1.5 times to its risk-weighted assets for operational risk. This translates to an additional amount of about S$930 million in regulatory capital.
The MAS noted deficiencies in DBS's incident management and recovery procedures to restore its digital banking services https://www.reuters.com/technology/singapore-bank-dbs-says-services-disrupted-second-day-2021-11-24 to a normal state, resulting in the prolonged duration of the disruption. The central bank has directed DBS to appoint an independent expert to conduct a comprehensive review of the incident, including its recovery actions.
The additional capital requirement will be reviewed when MAS is satisfied that DBS has addressed the identified shortcomings. The requirement is four times higher than the amount for a similar disruption of digital banking services in DBS in 2010. - Reuters
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Warisan lodges report with MACC over NCA deal | The Malaysian InsightSabah govt denies selling 2 million hectares of rainforest to Singapore company.
Source: msianinsight - 🏆 8. / 63 Read more »
More protesters against Covid measures enter Canada capital | Malay MailOTTAWA, Feb 6 — Protesters again poured into Canada’s capital early yesterday to join a convoy of truckers whose occupation of Ottawa to denounce Covid vaccine mandates is now in its second week. Individuals and families huddled around campfires in bone-chilling weather and erected bouncy...
Source: malaymail - 🏆 1. / 86 Read more »
PN urges EC to impose less stringent SOP in Johor polls | New Straits TimesKUALA LUMPUR: Perikatan Nasional (PN) has called on the Election Commission (EC) to implement less stringent standard operating procedures (SOP), especially during the campaigning period, in the upcoming Johor state election.
Source: NST_Online - 🏆 17. / 53 Read more »
Time for Sibu to have direct flight from Singapore, says Pelawan assemblyman Tiang | Malay MailSIBU, Feb 7 — A direct flight from Singapore to Sibu will open up the central region as a gateway to international market via Singapore, says Pelawan assemblyman Michael Tiang. He believes the time has come for Sibu to have a direct flight to Singapore, saying this augurs well for the state’s...
Source: malaymail - 🏆 1. / 86 Read more »
Made to measure: Jump on board the custom keyboard bandwagonAs people look to upgrade their home offices, custom mechanical keyboards are gaining popularity not only for their features but also for their fanciful designs.
Source: staronline - 🏆 4. / 75 Read more »
Canadian cities brace for more anti-vaccine mandate protests | Malay MailTORONTO, Feb 5 ― Canadian cities, including the financial hub Toronto, are bracing for disruptions this weekend as protests against vaccine mandates spread from the capital of Ottawa. The so-called “Freedom Convoy” began as a movement against a vaccine requirement for cross-border truckers,... Hardly heard huge scale of Uprisings in developed countries. But now it gets more interesting as others start to joining. Can a large public opinion dominates the small one in the office?
Source: malaymail - 🏆 1. / 86 Read more »