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Banks struggling to comply with MAS’s new 610 regulation

Banks operating in Singapore are finding it difficult to comply with the Monetary Authority of Singapore’s (MAS) upcoming 610 regulation, as many continue to using outdated reporting standards such as paper formats. While current regulations require around 4,000 data fields, under the new standards, the number of fields will increase to approximately 320,000. Banks are expecting the regualtor to implement…

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