Singapore cenbank imposes additional capital requirement on DBS

FILE PHOTO: The logo of the Monetary Authority of Singapore (MAS) is pictured at its building in Singapore. REUTERS/Edgar Su/File Photo

SINGAPORE: The Monetary Authority of Singapore said on Monday it has imposed on DBS Group Holdings Ltd an additional capital requirement of about $692 million, following a two-day disruption to its digital banking services in November.

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 ($692 million) in regulatory capital.