| (a) |
Unless specifically otherwise provided, a bank that obtained the prior written approval of the Registrar to adopt the foundation IRB approach to calculate the bank's exposure to credit risk in respect of positions held in the bank's banking book— |
| (i) |
shall continuously comply with the relevant minimum requirements specified in paragraph (b) below and such further conditions as may be specified in writing by the Registrar in respect of any asset class subject to the IRB approach; |
| (ii) |
shall continuously comply with the relevant minimum disclosure requirements specified in regulation 43(2); |
| (iii) |
shall categorise its exposures in accordance with the relevant requirements specified in paragraph (c) below; |
| (iv) |
shall calculate its risk-weighted exposures in accordance with the relevant requirements and risk components specified in paragraph (d) below; |
| (v) |
shall apply the SEC-IRBA as contemplated in subregulation (11)(k) for the measurement of the bank’s securitisation exposure, provided that the securitisation pool is an IRB pool as defined in subregulation (6)(h)(i)(B), and provided further that the bank shall in respect of the said securitisation exposures comply with the relevant requirements specified in paragraph (b)(xii) below. |
[Regulation 23(11)(a)(v) substituted by section 2(r) of Notice No. 2561, GG46996, dated 30 September 2022 - effective 1 October 2022]
| (vi) |
shall calculate any relevant credit impairment, amongst other things, in accordance with the relevant requirements specified in subregulation (22); |
| (vii) |
shall risk weight such amounts or exposures as may be specified in paragraph (q) below. |
Medicines and Related Substances Act, 1965
