The amount – which is based on DBS’ reported financial statements as at Sep 30 2021, is four times higher than in 2010 when the bank encountered a similar disruption.
The Monetary Authority of Singapore (MAS) has imposed an additional capital requirement on DBS Bank following the widespread unavailability of its digital banking services between Nov 23 and 25 last year.
With this, DBS Bank is required to apply a multiplier of 1.5 times to its risk-weighted assets for operational risk. This means the bank will have set aside an additional amount of around $930 million in regulatory capital to guard against such risks.
