The Monetary Authority of Singapore (“MAS”) announced that Singapore-incorporated banks will meet capital adequacy requirements that are higher than the Basel III global capital standards.  Singapore-incorporated banks are well-capitalised and in a strong position to meet MAS’ revised requirements. MAS will require Singapore-incorporated banks to meet a minimum Common Equity Tier 1 capital adequacy ratio (“CAR”) of 6.5%, Tier 1 CAR of 8% and Total CAR of 10% from 1 January 2015. In addition, MAS will require Singapore-incorporated banks to meet the Basel III minimum capital adequacy requirements from 1 January 2013, two years ahead of the Basel Committee on Banking Supervision’s 2015 timeline.