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Guidance lacking in covered bond rules here

It falls short in areas such as the appointment, duties and powers of an administrator, says Fitch

It said that MAS will require banks to disclose ACT results and cover pool characteristics at least quarterly, which Fitch viewed as positive for investors - PHOTO: SPH

SPECIFIC guidanceis still lacking in Singapore's rules for covered bond issuance, despite the recent update and clarification on liquid assets and disclosure by the Monetary Authority of Singapore (MAS), said Fitch Ratings yesterday. Fitch, which had been seeking clarification for both issuers