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GR-3.2.1

Past version: Effective from 01 Jul 2023 to 31 Dec 2023
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Retail branches of foreign banks must comply with the following when repatriating profits to Head Office:

(a) The gearing ratio stipulated in Paragraph CA-15.7.6 after repatriation;
(b) Satisfy the CBB of the adequacy of impairment provisions during the CBB’s review of the annual financial statements;
(c) Ensure that any unrealized gains arising from assets or liabilities fair value assessment are excluded from net income in the determination of the repatriation;
(d) Ensure that the Total Comprehensive Income is adequate to cover the profit to be repatriated; and
(e) Ensure that any negative fair value on assets held at amortised cost do not have any material adverse impact on the capital and liquidity positions where such assets may need to be liquidated before maturity to satisfy any financial obligations, including deposit withdrawals.
Added: July 2023