Singapore’s UOB bucks trend to seek FRTB model approval
Despite data challenges, the bank is opting for the IMA to enhance risk management
United Overseas Bank is the third-largest local bank in Singapore, and it has not used internal models to calculate capital requirements for market risk under the existing regulatory framework.
And yet, as Singapore prepares to implement the Basel Committee on Banking Supervision’s Fundamental Review of the Trading Book (FRTB) during 2024, UOB is set to become the first Singaporean bank to apply for permission to use internal models under the new regime.
“We are not doing it for capital
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